MARUTI.NSE

Maruti Suzuki India Ltd.

Maruti Suzuki led passenger vehicle exports with a 40 percent jump to 205763 units in April–September 2025.

Indian passenger vehicle exports surged by 18.4% in April-September, reaching 4,45,884 units. Maruti Suzuki led with over 2 lakh shipments, a 40% increase. Growth was driven by stable global demand, particularly in the Middle East and Latin America, with positive performance in 24 countries.

Venkatesh Balasubramaniam of JM Financial shared a comprehensive view of the Indian equity markets, highlighting the challenges and opportunities amid the current environment. He emphasized that the markets are trading at elevated valuations, with the headline indices priced at nearly 23–24 times one-year forward earnings—roughly one standard deviation above the mean. While such valuations could be justified by high earnings growth, actual EPS performance has been disappointing. FY25 began with expectations of 15% EPS growth but ended at 3.4%, and current-year projections have been revised down to roughly 7%, implying modest returns at best. Given this context, Venkatesh believes meaningful gains are unlikely from the broader indices, though individual stocks may still offer opportunities."So, earnings have got revised up. Similarly, third quarter again while on a quarter-on-quarter basis the EPS growth will be maybe a little less of a decline and fourth quarter you will see an improvement, but these are already factored in the numbers.

GST rate cuts have boosted Indian auto demand, particularly entry-level vehicles and two-wheelers, while festive momentum, exports, and improved OEM fundamentals support cautious investor optimism amid temporary incentives.