CAFE-III Norms: Citi Favours Maruti Suzuki, M&M, Hyundai; BofA Sees Tata Motors Best Placed
Maruti Suzuki is in focus.
· NDTV Profit
Citi sees the new framework as more stringent than the earlier CAFE-I and CAFE-II regimes, but believes the clarity around the final rules is a positive for the sector.
The analysis
Against that, the stock is -1.6% on the day at ₹11,264.00, and has returned -19.3% over three months. It sits 35% below its 52-week high, which means a good deal of bad news was already in the price. The auto sector has moved -4.1% over the same period, so Maruti Suzuki is running 15.2 points behind its peers.
For Maruti Suzuki, the question is how much of this is already reflected in the price and how much re-rates the auto peer set alongside it.
Market context
- The company directly in focus is MARUTI.
- Sector exposure: Auto.
In this story
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