Stock market analysts are of the view that investors can buy Maruti Suzuki India Limited stock to achieve an intraday target of Rs 1490.

According to them, investors can purchase the stock above Rs 1470 with a strict stop loss of Rs 1455.

If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 1500.

Shares of the company, on Wednesday (Nov 04), closed at Rs 1,462.25 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 55.73 and 25.62 respectively. The share price has seen a 52-week high of Rs 1740 and a low of Rs 428.40 on BSE.

Maruti Suzuki India (MSIL) has posted a growth of 32.4% in its monthly total sales, which stood at 85,415 units during October 2009.

The company’s sales in the domestic market surged 21.01% to 71,551 units in October as compared to 59,127 units in 2008. The company’s exports came up to 13,864 units as against 5,363 units in the year-ago period.

Maruti Suzuki India, on Oct 26, rolled out the new SX4 Sedan with an engine powered by upgraded VVT technology. MSIL has also launched a 4-speed automatic transmission edition of the novel SX4.

The ecofriendly new SX4 is among the first A-3 section to be BSIV compliant in the Indian market. BSIV rules are planned to be introduced in India in April 2010.

Boosted by good festive season sales and healthy exports, MSIL registered around two-fold increase in its net profit at Rs 5.7 billion for the three month period ended Sept 30, 2009.

The company’s net sales during the quarter zoomed 46.67% at Rs 70.50 billion, as compared to Rs 48 billion in the same period last year.

Moreover, Maruti Suzuki will introduce two of its popular models including Alto and Wagon R with a new generation new SUVs to hit Indian markets engine as it gears up to meet up April 2010 target of stricter emission norm.

It is discovered that Maruti will stop the old F-series engines in both Alto and Wagon R and replace them with its new K-series engine.