India’s largest carmaker, Maruti Suzuki India Ltd, is the second-most expensive auto stock among the top 20 global auto stocks after Tesla Motors, with the premium based on a double digit sales growth outlook, and strong valuations for Indian equity markets.
According to Bloomberg’s Best Estimates, Maruti trades at 21.22 times fiscal year 2018 price-to-earnings (P/E), after US’s Tesla Motors, which trades at 33.42 times.
Shares of Maruti Suzuki tested fresh record high of Rs.5,037.90 on Tuesday. They have gained 9.68% since its earnings were announced on 26 July, and are up 8.14% so far this year.
Read the full story on LiveMint