Macquarie upgrades Maruti Suzuki to 'outperform'

Macquarie has upgraded Maruti Suzuki to "outperform" from "neutral" after the automaker said it would restart production at its Manesar factory on August 21.

Macquarie said the restart was earlier than its expectations, and that Maruti would now focus on production ramp-up over the next couple of months.
Macquarie also raised its target price on Maruti Suzuki to Rs 1,500 from Rs 1,200.

Maruti shares were up 1.2 per cent at Rs 1,187.00 at 10:52 a.m.



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