Angel Broking has recommended 'Accumulate' on Maruti Suzuki (MSIL) with target price of Rs 2,119 in its report.

Commenting on the investment rationale, the stock broker said, ''According to media reports, Maruti Suzuki (MSIL) is contemplating a recall of around 100,000 units of Swift Dzire which has already being sold to customers or are forming part of the inventory at dealer end. According to reports, the problem pertains to loose-fitting fuel cap which can lead to fuel loss through evaporation and odour leaking into the cabin. MSIL has not yet finalized on the decision to recall the car and is still investigating the matter. In the event the company decides to recall Dzire, it would be one of the largest recall exercise undertaken by MSIL besides recall of A-Star model in FY2011.

We would await more clarity from the company on the proposed recall exercise and associated costs involved. Nonetheless, we maintain our 'Accumulate' rating on the stock with a target price of Rs 2,119.''

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