Muthuselvaraj M, Research Analyst at Mirae Asset Sharekhan believes that both Eternal and Maruti have corrected significantly from their respective peaks and are now showings some signs of strength.
Despite prevailing global uncertainties, Indian automakers continued to post robust dispatch volumes in April 2026
Maruti Suzuki jumped around 5 per cent, followed by Bajaj Auto up by 4 per cent, and Hero Moto Corp up by 2.05 per cent
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
Maruti Suzuki India stock outlook: Technical analyst at Mirae Asset Sharekhan believes that Maruti can rally over 20% past the ₹15,000-mark, as and when it clears the 38% retracement level.
Maruti Suzuki shares rose after a strong Q4 performance, with analysts positive on domestic demand outlook despite near-term pressure on margins from higher costs.
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
The sentiment was further supported by bullish commentary from brokerages, which have broadly retained their 'Buy' calls while expecting sustained demand momentum and strong growth visibility ahead
Higher input costs and mark-to-market impact weigh on Maruti Suzuki's Q4 profit despite strong sales growth, with company maintaining cautious outlook on demand
Maruti Suzuki profit for Q4FY2026 fell 6.4 per cent to ₹3,659 crore as its sales hit an all-time high of 676,209 units in the same period.
Q4FY26 company results: Firms including AWL Agri Business, REC, Ceat, Dalmia Bharat, Piramal Pharma, and Sanofi India are also to release their January-March earnings today