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Credit Suisse Maintains Outperform on Maruti Suzuki
Credit Suisse has maintained its 'outperform' rating on Maruti Suzuki and has increased its target to Rs 5,100 from Rs 4,370 per share. Credit Suisse says that higher volumes should continue to drive upgrades. The brokerage adds that the sixth pay commission had a big impact on Maruti's volumes and the seventh pay commission could boost industry demand by 10 per cent. Increase in FII limit could be another trigger for the upmove in the stock, says Credit Suisses.