While every segment seems to be growing, data suggests that growth is higher in the compact SUV space compared to hatchbacks, says Hyundai Motor India MD & CEO Tarun Garg.
A total of 31 Nifty companies that have declared results so far reported 7 per cent YoY growth in earnings, driven by HDFC Bank, Tata Consultancy TCS, Infosys, Larsen & Toubro (L&T), and Maruti Suzuki India.
Maruti Suzuki grew 22% in Q3, beating industry growth of 20.5%, driven by a 24.5% surge in small cars after GST reforms. Net sales touched ₹47,500 crore, with margins improving after adjusting for a one-time labour code provision. The company now accounts for 46% of India’s car exports. Management says first-time buyers are returning, expects near-term demand to stabilise, and pegs sustainable growth at around 7% annually.
Among Sensex constituents, Maruti Suzuki declined 2.55% to Rs 14497. Asian Paints slipped 1.72%, while Titan, IndiGo and Hindustan Unilever fell 1.54%, 1.24% and 1.15%, respectively.
Choice Institutional Equities said Maruti Suzuki continues to be a key beneficiary of GST-led auto sector revival, particularly in the small car segment.
As South Africa weighs steeper tariffs of up to 50% on ‘Made in India’ cars, Maruti Suzuki India Ltd says it will de-risk exports with the help of its wide market of over 100 countries.
Markets closed on a positive note on Wednesday, with Sensex and Nifty continuing their strong stride for the second consecutive session on Wednesday amid optimism due to the historic trade agreement signed between India and the European Union (EU).
Maruti Suzuki Q3 earnings: Net profit rose to Rs 3,794 crore in the last quarter against Rs 3559 crore in the December 2024 quarter.
Mahindra & Mahindra (M&M) declined 4.09%, while Eternal, Maruti Suzuki and IndiGo down 1.53%, 1.03% and 1.03%, respectively.
On Thursday, January 29, with a mix of conglomerates and new-age tech, including ITC and Adani Enterprises (AEL), which are set to declare their numbers.
Axis Securities sees Ultratech Cement, Maruti Suzuki India Ltd, Bharti Airtel Ltd, NALCO, Prestige Estates Projects Ltd, Chalet Hotels, Max Healthcare and Credit Access Grameen Ltd as Budget plays.
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