Will Maruti reclaim ₹15,000-mark in next 3 months? Analyst flags key hurdle

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 stock has been a laggard on the stock exchanges in the calendar year 2026 thus far. The stock has declined nearly 21 per cent as against at a near 7.5 per cent correction in the NSE benchmark Nifty 50 index.  In April, so far, the Maruti Suzuki India stock has managed to gain 7.7 per cent in line with a broader market recovery, wherein the Nifty surged 8.3 per cent.  The daily chart shows that the stock has been under constant pressure ever since it dipped below the ₹15,000-mark in late February. At current levels, Maruti stock is seen trading below the medium-term and long-term moving averages.  The technical chart shows that Maruti trades below the 50-, 100- and 200-day moving averages (DMAs), which stand at ₹13,625, ₹14,806 and ₹14,768, respectively. The stock, however, quotes above its 20-DMA, which stands at ₹13,141.  Technical analyst at Mirae Asset Sharekhan highlights that the stock is seen also trading above its 20-day exponential moving average (20-DEMA), thus showing strength.  Muthuselvaraj M, Research Analyst at Mirae Asset Sharekhan believes that the stock has the potential to rally past the ₹15,000-mark, provided it clears the critical hurdle around ₹14,000 levels.

Technical outlook on Maruti Suzuki India Stock

Maruti stock price

  Last close: ₹13,257 

 

 

  The analyst from Mirae Asset Sharekhan believes that Maruti stock is in a consolidation phase, after correcting by 30 per cent from its peak and forming a daily triangle pattern.  Muthuselvaraj expects the stock to push towards ₹15,180 - ₹15,980 levels, in case it breaks above the ₹14,057 hurdle. This the analyst explains is the 38 per cent retracement of a fall from its high of ₹17,370 to its recent low at ₹12,240). The upper end of the anticipated target prices, translates into a potential upside of 20.5 per cent from its last close.  Among the key momentum oscillators, the daily MACD's positive crossover near the zero line indicates short-term buying. Hence, the analyst has a positive outlook on the stock.

Axis Securities on Maruti Suzuki India

Axis Securities has retained is 'Buy' rating on Maruti stock, but lowered its projected target price from ₹16,860 to ₹14,620 levels. The revised valuation is based on 26x PE on FY28E Earnings Per Share (EPS).  Commenting on its rating rationale, the brokerage highlights that domestic demand for Maruti remained strong in Q4, supported by the GST reduction-led recovery. Exports also jumped up to 34.6 per cent YoY to 4,47,774 units.  The company expects to sustain the current run-rate of ~1,30,000–1,40,000 units per quarter, supported by its diversified global presence, while the upcoming eVX rollout remains a key growth catalyst.  In the near term, the company expects mid-single-digit domestic volume growth in FY27E and double-digit export volume growth, the note stated.  Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.