Maruti Suzuki second-most expensive among top auto stocks globally

Maruti Suzuki is also the 15th largest auto company in the world, in terms of market capitalization, which stands at $22 billion.

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.

Maruti Suzuki is also the 15th largest auto company in the world, in terms of market capitalization, which stands at $22 billion. (HT file photo)

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.

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