Maruti Suzuki shares decline over 2% after Q1. Morgan Stanley, Motilal Oswal decode the road ahead

Maruti Suzuki shares fell over 2% after the automaker reported an 11% YoY decline in June-quarter standalone net profit, even as revenue rose 36% and sales volumes hit a record high. While Nomura retained a Neutral rating citing margin risks, Motilal Oswal reiterated its Buy call, expecting market share gains, easing input costs and strong earnings growth to support the stock.

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