New Delhi, Sept. 24 -- It was another bull day for Maruti Suzuki, as the stock touched a fresh record high of Rs.16,375 apiece, gaining nearly 2% in Wednesday's trade (September 24), despite cautious sentiment in the Indian stock market. The day's lifetime high also marked the 17th record high in just over a month, as investors see auto stocks among the potential beneficiaries of GST rate cuts.

The rally was further supported by target price upgrades from multiple brokerage firms, positioning Maruti Suzuki's stock among the best performers in the recent auto sector run-up and helping it stay higher for the eighth straight week. During this period, it has grown by 32%, translating its year-to-date gains to 50%.

In another optimistic outl...