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Maruti Suzuki Cut to `Hold' From `Buy' at Citigroup on `Earnings Headwind'

Maruti Suzuki India Ltd. had its stock rating lowered to “hold” from “buy” by Citigroup Inc. analysts Jamshed Dadabhoy and Arvind Sharma, who said the company faces “earnings headwind.”

The brokerage reduced its share-price estimate to 1,435 rupees from 1,707 rupees, according to a report dated yesterday.

To contact the reporter on this story: Chua Kong Ho in Shanghai at kchua6@bloomberg.net

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