Karvy Stock Broking Limited has maintained ‘Buy’ rating on Maruti Suzuki stock to achieve a target of Rs 685 within 2-3 sessions.

According to Karvy, day traders can buy the stock between Rs 650-655 with a stop loss of Rs 640.

Shares of the company, on Thursday (Mar 05), closed at Rs 667.60 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 44.38 and 14.42 respectively. The share price has seen a 52-week high of Rs 945.55 and a low of Rs 428.40 on BSE.

Maruti Suzuki India (on Mar 06) announced that it has achieved its highest ever domestic and total sales during the last month (Feb 2009). The company also recorded the highest ever export sales.

During Feb 2009, Maruti sold 70,625 units in India, which was up 19.1% against the same period of the last year.

Overall, the company sold 79,190 vehicles during February 2009; up 24.1% over corresponding month last fiscal. The previous highest total sales were registered in January 2009 (71,779 units).

Exports surged 90% to 8,565 units, led by the A-Star small car launched during November 2008.

Domestic sales of the SX4 and D'Zire sedans grew over 300% from year ago, helped by excise duty cut.

Moreover, Punjab & Sind Bank (PNB), public sector lender, joined hands with Maruti Suzuki in order to offer retail finance facilities for car buyers.

The two firms have signed up a memorandum of understanding.

Through the deal, PNB would focus attention on rural and semi-urban arenas in Punjab, Haryana, Jammu and Kashmir, Chandigarh and Delhi.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Apollo Tyre, Hero Honda and Punjab Tractors.