Maruti Suzuki's stock has declined 16.48 per cent year to date and has underperformed the BSE barometer, the Sensex, which is down 7.74 per cent during the same period.
Among sectoral indices, the BSE IT surged 16% followed by Consumer Durables (9%), Realty (8%) and Auto (6%). On the flip side, Capital Goods and Power indices declined 7% and 6%, respectively.
While near-term uncertainties surrounding the monsoon, crude oil prices and geopolitical developments persist, auto sector's growth outlook is increasingly being driven by structural demand.
Brokerages expect Bajaj Auto to report strong Q1FY27 revenue growth, driven by volume expansion, export momentum, currency tailwinds, and a better product mix
Tube Investments of India, Ashok Leyland were among the major laggards. Both counters fell over 3 per cent as the Brent price surged to $85 per barrel mark, adding pressure on auto stocks.
Buying interest extended to broader markets as well, with the Nifty Midcap 100 and Nifty Smallcap 100 indices settled higher by 0.45 per cent and 0.75 per cent, respectively
According to FADA, the share of electric vehicles in overall two-wheeler sales rose to 10.6 per cent, hitting the double-digit mark for the first time.
Bajaj Auto's largest share buyback worth ₹5,633 crore at ₹12,000 per share will open on July 1; shareholders who hold shares as of today (June 24) will be eligible to participate in the buyback.
However, the stock erased some losses by close and ended 8.2 per cent lower at ₹361.50 on the BSE. In comparison, the BSE Sensex closed 0.45 per cent higher at 77,155.62 levels.
Stocks to Watch today, May 4, 2026: Shares of Hero MotoCorp, Maruti Suzuki India, Hyundai Motor India, M&M, Tata Motors (PV and CV), and Eicher Motors will remain in focus following April sales data
Analysts attribute the rally to better-than-expected quarterly earnings and supportive high-frequency data, which have strengthened expectations of a strong Q4 performance
The index climbed as much as 2.69 per cent to hit an intraday high of 26,484, with buying fuelled by favourable management commentary from the country's largest carmaker, Maruti Suzuki India
Most brokerages expect healthy earnings growth across auto original equipment manufacturers (OEMs) and ancillary players on both a year-on-year (Y-o-Y) and quarter-on-quarter (Q-o-Q) basis