CLSA has downgraded Maruti Suzuki India to sell from underperform with a target price of Rs 6,420. The stock was marginally under pressure. The big fear in the market is that Maruti is unable to compete with its peers in the high-growth SUV space and is losing market share in that segment. Lack of launches is hurting their market share.

As per CLSA, there could be a downgrade in volumes and margins for FY23-24. However, margin recovery is on the cards because the worst of raw material issues are behind us but could be below consensus.

Watch the video for more

Catch the latest stock market updates here

First Published:Dec 3, 2021 1:10 PM IST