How EV-themed stocks could impact sentiment on Maruti Suzuki counter
Jain said Maruti Suzuki has largely remained trapped in a narrow band over the past 18 months and could continue to trade that way for some time.
- Sep 3, 2026,
- Updated Sep 3, 2026 4:13 PM IST
Maruti Suzuki investors hoping for a decisive breakout may need to temper expectations. In a market increasingly rewarding newer-age and EV-linked auto plays, the country’s largest carmaker appears set for a prolonged consolidation phase, according to market expert Ruchit Jain, who said the stock is unlikely to deliver a meaningful directional move in the near term. The stock of EV Major Ather Energy has risen 134% in six months and gained 227% in a year. The stock of EV major Ather Energy Ltd has risen 134% in six months and gained 227% in a year. Shares of another EV major Ola Electric have surged 55% in six months.
On the other hand, Maruti Suzuki shares have traded in red for a year. While the stock has fallen 24% in 2026 and fallen 15% in a year.
Responding to a long-term investor who has held the stock since 2020 and is now considering an exit, Jain said Maruti Suzuki has largely remained trapped in a narrow band over the past 18 months and could continue to trade that way for some time.
Range-bound outlook persists
Jain’s assessment was blunt: Maruti has been in a majorly consolidation phase and there is no big directional move expectations here. That view is significant for investors who have stayed invested through a multi-year holding period but are now reassessing opportunity costs.
From a technical standpoint, he identified Rs 12,000 as a crucial support level, aided by the weekly 200-day moving average, while Rs 14,500 has emerged as a major resistance. In his view, the stock is likely to remain confined within this broad range rather than enter a fresh trending cycle.
Why market leadership may be shifting
The sharper takeaway lies beyond Maruti itself. Jain pointed to a broader change in market preference within the auto pack, where investors are increasingly chasing companies tied to emerging mobility themes. A lot of new age stocks and EV related theme names have already delivered strong returns, he said, adding that going forward also we feel that in these new age stocks better returns will be made.
That comment reflects a wider market rotation visible across sectors, where capital is moving toward businesses perceived to have stronger growth visibility, sharper narratives and higher re-rating potential. In such an environment, mature large-cap names can remain fundamentally stable yet still underperform on price.
What investors may do next
For existing shareholders, the message is not necessarily bearish, but pragmatic. Jain did not indicate a structural breakdown in Maruti Suzuki. Instead, he suggested the stock may simply remain a low-momentum holding. For investors focused on trend-driven returns over the next two to four years, that could be reason enough to reallocate.
“If for trending stocks you want to see even from next two to three years perspective or four years perspective, so you can make that switch from Maruti to some other name,” he said. For investors, the call boils down to a familiar market question: stay with stability, or rotate toward growth.
Maruti Suzuki investors hoping for a decisive breakout may need to temper expectations. In a market increasingly rewarding newer-age and EV-linked auto plays, the country’s largest carmaker appears set for a prolonged consolidation phase, according to market expert Ruchit Jain, who said the stock is unlikely to deliver a meaningful directional move in the near term. The stock of EV Major Ather Energy has risen 134% in six months and gained 227% in a year. The stock of EV major Ather Energy Ltd has risen 134% in six months and gained 227% in a year. Shares of another EV major Ola Electric have surged 55% in six months.
On the other hand, Maruti Suzuki shares have traded in red for a year. While the stock has fallen 24% in 2026 and fallen 15% in a year.
Responding to a long-term investor who has held the stock since 2020 and is now considering an exit, Jain said Maruti Suzuki has largely remained trapped in a narrow band over the past 18 months and could continue to trade that way for some time.
Range-bound outlook persists
Jain’s assessment was blunt: Maruti has been in a majorly consolidation phase and there is no big directional move expectations here. That view is significant for investors who have stayed invested through a multi-year holding period but are now reassessing opportunity costs.
From a technical standpoint, he identified Rs 12,000 as a crucial support level, aided by the weekly 200-day moving average, while Rs 14,500 has emerged as a major resistance. In his view, the stock is likely to remain confined within this broad range rather than enter a fresh trending cycle.
Why market leadership may be shifting
The sharper takeaway lies beyond Maruti itself. Jain pointed to a broader change in market preference within the auto pack, where investors are increasingly chasing companies tied to emerging mobility themes. A lot of new age stocks and EV related theme names have already delivered strong returns, he said, adding that going forward also we feel that in these new age stocks better returns will be made.
That comment reflects a wider market rotation visible across sectors, where capital is moving toward businesses perceived to have stronger growth visibility, sharper narratives and higher re-rating potential. In such an environment, mature large-cap names can remain fundamentally stable yet still underperform on price.
What investors may do next
For existing shareholders, the message is not necessarily bearish, but pragmatic. Jain did not indicate a structural breakdown in Maruti Suzuki. Instead, he suggested the stock may simply remain a low-momentum holding. For investors focused on trend-driven returns over the next two to four years, that could be reason enough to reallocate.
“If for trending stocks you want to see even from next two to three years perspective or four years perspective, so you can make that switch from Maruti to some other name,” he said. For investors, the call boils down to a familiar market question: stay with stability, or rotate toward growth.