Maruti Suzuki stock jumps 3.7% to record high, crosses ₹12,000 mark for first time
Maruti Suzuki India, the country's largest automaker, surged to a historic high, crossing the ₹12,000 per share mark for the first time in today's trading session to set a new record high of ₹12,025 apiece by gaining 3.7%. This surge represents the fourth consecutive day of gains for the stock.
Global brokerage firm CLSA stated in its recent note that the company is likely to benefit from the rise in CNG vehicles. The brokerage forecasts indicate a significant uptick in the share of CNG passenger vehicles, expected to climb from 15% in fiscal year 2024 to 22% by fiscal year 2030.
Also Read: Bharti Hexacom IPO likely to launch in April, seeks valuation over ₹28,000 crore: Report This anticipated rise is attributed to the lower operational costs of CNG vehicles in comparison to their Internal Combustion Engine (ICE) counterparts. CLSA predicts that Maruti Suzuki will maintain its dominance in the CNG segment, commanding an impressive market share of 72%.
Recent analysis shows that CNG prices are approximately 50% lower than petrol and 22% lower than diesel, reinforcing the appeal of CNG vehicles in the current market landscape. In recent years, India has made significant strides towards promoting green mobility, with the government actively managing CNG prices as part of this initiative.
Also Read: Eicher Motors shares surge 6% after UBS upgrades rating to 'buy' "With a renewed focus on fuel-efficient models such as CNG/hybrid and a strong line-up for SUVs despite short-term weakness in the hatchback segment, we expect Maruti Suzuki’s performance to be driven by, reshaping of the portfolio driven by SUVs, visibility on EV entry in FY25, and consolidation of SMG. We believe the Greenfield plant in Kharkhoda, Gujarat, and an
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