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Maruti Suzuki Shares Rise After Jefferies Upgrades Stock to Buy
Shares of Maruti Suzuki India gained nearly 2 percent in early trade after global brokerage Jefferies upgraded the stock to "Buy" and increased its target price to Rs 16,500. The brokerage cited improving passenger vehicle demand, easing input cost pressures, and stronger earnings growth prospects.
By Finblage Editorial Desk
3:40 pm
30 June 2026
Shares of Maruti Suzuki India Ltd rose nearly 2 percent in early trading on June 30 after global brokerage Jefferies upgraded the stock to "Buy" from its earlier rating and raised its target price to Rs 16,500 per share.
The brokerage expects improving demand in the passenger vehicle segment alongside lower input costs to support the company's earnings trajectory. Jefferies noted that easing crude oil prices have improved demand sentiment, while softer metal prices are expected to reduce margin pressures for India's largest passenger vehicle manufacturer.
Reflecting its improved outlook, Jefferies increased its earnings per share (EPS) estimates for Maruti Suzuki by 2-4 percent for FY27 to FY29. The brokerage also expects the company to deliver a 16 percent compound annual growth rate (CAGR) in EPS between FY26 and FY29.
Following the upgrade, Maruti Suzuki shares were trading nearly 2 percent higher in early trade, making the stock the top gainer on the Nifty 50. Jefferies' revised target price implies an upside of around 23 percent from the previous closing price.
The brokerage's positive outlook comes amid expectations of sustained demand in the domestic passenger vehicle market and a more favourable commodity cost environment, which could support profitability over the medium term.
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