Nuvama reiterated a "buy" recommendation for Maruti Suzuki, targeting ₹14,300, citing its progression into electric vehicles.
The automaker has begun production of its first EV, the eVitara, marking a strategic shift.
Its Gujarat plant is expanding (completion by FY27), with the upgrade allowing flexibility a
cross powertrains.
The eVitara is slated for launch in over 100 countries, including Europe and Japan—emphasizing export ambition.
The move signals India’s potential rise as a global EV manufacturing hub.
Investors may view this as a long-term structural pivot for Maruti’s valu
ation uplift.
The rating reflects confidence amidst uncertainty in global auto markets.
Electric mobility is emerging as a credible value-add theme in the auto space.
Maruti’s adaptability across technologies positions it well for future demand
shifts.
The recommendation underscores auto sector’s expanding relevance in India’s growth story.