Maruti Earnings Good But Valuation Expensive: SBICap Securities
Mahantesh Sabarad, deputy head (research) at SBICap Securities, says the overall Q1 numbers for Maruti were good and there is much to look forward to in terms of business growth ahead. But the stock's valuation is on the expensive side at 18-plus times forward earnings and the market is way ahead in factoring in a full recovery of FY17.
