Maruti Suzuki goes from 'underperform' to 'outperform'

Mumbai: Credit Suisse has upgraded Maruti Suzuki , India's biggest automaker, to outperform from underperform, citing expectations for higher sales and margins for the fiscal year starting on April 1.

[caption id="attachment_235737" align="alignleft" width="380" caption="Maruti shares were up 0.9 percent at 1,327.35 rupees at 10:43 am"][/caption]

It also raised Maruti Suzuki's target price to 1,671 rupees a share from 1,021 rupees, valuing the shares at their historical average of 11 times FY13 expected cash earnings per share.

Maruti shares were up 0.9 percent at 1,327.35 rupees at 10:43 am

Reuters