Maruti’s product innovations are paying off, too. The recently launched compact SUV Brezza has been getting about 2,000 bookings a day, and seven more SUVs are in the pipeline for 2030. The company sold 219,000 UVs last quarter, up 35% year-on-year. Its sales in both GST slabs—18% and 40%—surpassed the industry’s, bulking up its market-share by 230 basis points to 41.2%. A sustained market-share recovery is likely to drive a re-rating of the stock, according to Motilal Oswal Financial Services.
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