Stock market analyst Avani Mehta of Maia Financial Services has maintained 'buy' rating on Maruti Suzuki India Ltd stock to achieve a target of Rs 1400.

According to analyst, the said target can be achieved in a period of 2-3 months.

Today, the stock of the company opened at Rs 1312 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1740 and a low of Rs 1186.30 on BSE.

Current EPS & P/E ratio stood at 82.35 and 16.01 respectively.

India's biggest car manufacturer Maruti Suzuki India Ltd has recorded an increase of 23.56% in its August sales, which stood at 1,04,791 units as against the same period of 2009.

The company's sales figure during August 2009 stood at 84,808 units.

It was the third time in 2010-11 that Maruti Suzuki monthly sales number has surpassed one lakh mark.

The company would make an investment of 35 billion yen (416 million dollars) in order to set up a novel plant to meet up growing demand in the local market.

Maruti Suzuki India Ltd said that it will strengthen its production capability by 46% on increasing demand in Asia's third-largest car market.