Buy on Maruti - Emkay Global Financial Services

Emkay Global Financial Services has maintained its buy rating on Maruti Suzuki India with a revised target price of Rs 775 in its July 22, 2008 research report. "For 1QFY09, Maruti reported adjusted net profits of 4.8 billion (ahead of market expectation) primarily driven 41% YoY increase in treasury income. However, 1QFY09 operating performance was below expectation."