Maruti facing Resistance over crucial resistance zone
The global brokerage firm has maintained 'sell' rating on the stock with target of Rs 6,420 per share, a downside of over 25 percent from current market price.
Maruti Suzuki India share price fell over 2 percent in the morning session on January 18 after CLSA retained sell call on the stock. The scrip was trading at Rs 8,028.50, down Rs 236.20, or 2.86 percent at 10:18 hours. It touched an intraday high of Rs 8,255 and an intraday low of Rs 7,992.20.
Increase of airbags will take cost of vehicles higher by Rs 16,000, adding that Maruti would be the most impacted by an increase in airbags. 70 percent of its domestic volume is from hatchbacks and entry level sedans," it added.
Maruti Suzuki India share price fell over 2 percent in the morning session on January 18 after CLSA retained sell call on the stock. The scrip was trading at Rs 8,028.50, down Rs 236.20, or 2.86 percent at 10:18 hours. It touched an intraday high of Rs 8,255 and an intraday low of Rs 7,992.20.
Increase of airbags will take cost of vehicles higher by Rs 16,000, adding that Maruti would be the most impacted by an increase in airbags. 70 percent of its domestic volume is from hatchbacks and entry level sedans," it added.
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