Stock market analysts have maintained buy rating on Maruti Suzuki India stock with a target price of Rs 944.

According to analysts, investors can buy the stock around Rs 842 with a stop loss of Rs 825.

Shares of the company, on Friday (May 15), closed at Rs 847.55, up Rs 13.60, on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 42.18 and 20.09 respectively. The share price has seen a 52-week high of Rs 873 and a low of Rs 428.40 on BSE.

The stock looks good, and it is ready to hit a new 52-week high. So buy the stock to reap hefty returns in the short term.

On Friday (May 15), Maruti introduced its 'Ritz' in two variants including petrol as well as diesel.

Currently, Maruti holds 58% market share of the growing auto segment in India.

With the launch of 'Ritz', the company now consolidates its control in the highly competitive compact car segment.

According to PINC's research report, "Maruti Suzuki India (MSIL) launched its new model Ritz in the domestic markets. Named as Splash in the European market, Ritz is Suzuki's fourth global strategic model. Including this model, MSIL will now have six (excluding M-800) offerings in the compact car segment. We believe that MSIL will continue to enjoy premium valuations due to its strong product line up, dominance in the domestic market, and cash-rich balance sheet. We reiterate our 'BUY' rating with a target price of Rs 944, discounting FY10E earnings 16x."

The country's biggest car manufacturer Maruti Suzuki India (MSIL) is in search of car engineers from the European as well as US market.

It also participated in the Society of Auto Engineers` 2009 World Congress Career Fair at Detroit last month to hunt for engineers.

MSIL has also decided to increase the number of its outlets in the Indian rustic by two folds by 2011.

On May 12, MSIL said that it ahs decided swell its presence in diesel sector, a category which is rulked by Tata Motors.

Moreover, the company also said that it will invest Rs 90 billion by 2010 in non-production activities, which includes R&D and marketing initiatives.