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Maruti Suzuki Share Price Today: Shares of Maruti Suzuki India Ltd fell nearly 3 per cent on January 7, snapping a six-session winning streak, after global investment bank HSBC cautioned that commodity costs could pose near-term risks to the stock. The fall in Maruti Suzuki also dragged the Nifty Auto index, which ended in the red after six straight days of gains.

At market close, Maruti Suzuki shares settled 2.8 per cent lower at Rs 16,806, while the Nifty Auto index declined 0.8 per cent.

In a note, HSBC said that while Maruti Suzuki’s market share has normalised to around 40 per cent and the overall demand outlook remains buoyant, margins in the December and March quarters will be crucial for investor sentiment.

“With all stars aligned, 3Q and 4Q margins are critical for the stock. A print below 10 per cent EBIT margin could disappoint the market, while commodities remain a near-term risk,” HSBC said.

Despite the caution, the brokerage maintained a ‘Buy’ rating on Maruti Suzuki and raised its target price to Rs 18,500, citing healthy demand conditions and strong execution.

Maruti Suzuki’s operational performance remains firm, with the automaker reporting a 36 per cent year-on-year jump in total domestic sales in December 2025, along with a 5 per cent month-on-month increase, providing some support to the longer-term outlook.

Maruti Suzuki and Tata Motors Passenger Vehicles (PV) were among the top drags on the Nifty Auto index. Tata Motors PV shares fell for the second consecutive session, closing 1.5 per cent lower at Rs 363, even as CLSA maintained an ‘Outperform’ rating with a target price of Rs 450.

CLSA noted that Tata Motors PV shares have declined 15 per cent since listing a quarter ago, weighed down by subdued second-quarter results and a weak near-term outlook for subsidiary Jaguar Land Rover (JLR). The brokerage added that a ransomware attack on JLR disrupted production and logistics, though it expects production to normalise from Q4 FY26, with an improving outlook for Indian passenger vehicles following a GST rate cut.

However, CLSA has cut Tata Motors PV’s CY26 earnings per share estimate by 31 per cent, reflecting near-term challenges.

Maruti Suzuki India, the country’s largest carmaker reported a 7.3 per cent increase in standalone net profit to Rs 3,293.1 crore for the quarter ended September 30 (Q2 FY26), compared with Rs 3,069.2 crore in the same period last year.

However, the results fell short of Zee Business’ estimates, as analysts had expected a profit of around Rs 3,535 crore, implying a 15.2 per cent growth. Revenue, meanwhile, rose 13.16 per cent year-on-year to Rs 42,100.8 crore from Rs 37,202.8 crore, surpassing the Rs 39,350 crore projected by analysts. The topline growth was driven by a better product mix, higher realisations, and steady demand during the quarter.

EBITDA for the September quarter inched up 0.4 per cent to Rs 4,434 crore from Rs 4,417 crore in the same period last year, while EBITDA margin declined by 140 basis points to 10.5 per cent from 11.9 per cent year-on-year.

Shweta Birendra Shukla is a Senior Sub-editor at Zee Business, born and raised in Mumbai—the city that never sleeps and the financial capital that never stops buzzing.