Maruti Suzuki shares flat after robust Q2 results 2023

The biggest breaking news in the market is here. The biggest car manufacturer in India, Maruti Suzuki shares have now flat after the robust Quarter 2 results. This is a very shocking news. It has been reported that the net profit has jumped to 80% YoY. The brokerages have maintained a buy view on the Maruti Suzuki after the great Quarter 2 results. So now in this article, we are going to suggest that today you should buy, sell, or hold the shares of Maruti Suzuki. This article is going to be very important for every single trader. So read this article very carefully.

Maruti Suzuki

On 30th October 2023, Monday the Maruti Suzuki share price was opened at the intraday high of Rs. 10,741.30 per piece on Bombay Stock Exchange (BSE). The share price of Maruti Suzuki has opened completely flat today’s trading session as it follows the company’s robust Quarter 2 results. The company reported a standalone net profit of Rs. 3716.5 crore at the end of September 2023. Maruti Suzuki’s net profit has now jumped by an amazing robust 80.28% if we compare it to Rs. 2061.5 crores in the same quarter of 2022. The share price of the company today has opened at the intraday high of Rs. 10,741.30 per piece on BSE. Continue reading till last.

The company’s shares have now touched an intraday low of Rs. 10491.80. As per the technical analysts. the broader trend for the stock is completely positive. The 50DEMA is working in support of the declines which are currently placed at approximately Rs. 10,300. In the exchange, Maruti Suzuki has highlighted that increased non-operation income, cost-cutting initiatives, improved net sales, and lower commodity prices were most of the major driving factors that surged in the net profit. According to the source, the auto major standalone revenue in Quaryter 2 of FY24 has been growing up to 23.08% to Rs. 37062.1 from Rs. 29930.8 crores, YoY. Scroll down to learn more details.

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The operational performance of Maruti Suzuki has now improved as the earnings before the interest, taxes, depreciation, and amortization. EBITDA has risen 72.8% to Rs. 4784 crore from 2768 crore whereas on the other hand, EBITDA margin has been expanded by 360 basis points (bps) to 12.9% from 9.3%, YoY. According to the reports, the company has now officially surpassed the street forecasts, brokers have maintained a buy view on the company’s stock. As we all know the brokerages of the company are Motilal Oswal Financial Services, Nuva,  Institutional Equities, and JM Financial.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging