Mumbai: The milestone marks a rare feat for an Indian automaker, as Maruti’s stock touched a fresh 52-week high of ₹16,414.25 on Friday. The company’s valuation has now surged ahead of its own Japanese parent, Suzuki Motor, valued at $29 billion.
Maruti’s rise has been nothing short of spectacular, with its stock rallying 25.5% since August, outpacing the Nifty Auto index’s 11% gain. The momentum was sparked by Prime Minister Narendra Modi’s indirect tax reforms, announced on Independence Day, with the revamped GST regime taking effect on September 22.
The reforms gave small carmakers a decisive edge by slashing cascading levies and cutting prices by up to ₹1.3 lakh on select models. Maruti’s compact offerings, its best-selling segment, contributing over 60% of volumes, benefited the most. Variants of the S-Presso and Alto K10 saw price reductions exceeding 25%, making them significantly more affordable.
The GST overhaul’s rollout coincided perfectly with the onset of the Navratri festival, creating a surge in consumer demand. Maruti reported 15,000 bookings daily under the new tax regime, and on the very first day of Navratri, the company delivered a record 30,000 vehicles.
In just a few days, Maruti logged 75,000 bookings and 80,000 inquiries, a staggering 50% jump over typical levels, highlighting both festive fervor and consumer confidence.
The GST overhaul’s rollout coincided perfectly with the onset of the Navratri festival, creating a surge in consumer demand. Maruti reported 15,000 bookings daily under the new tax regime, and on the very first day of Navratri, the company delivered a record 30,000 vehicles.
In just a few days, Maruti logged 75,000 bookings and 80,000 inquiries, a staggering 50% jump over typical levels, highlighting both festive fervor and consumer confidence.
The rally has also been fueled by foreign portfolio investors, who have boosted their exposure to Indian auto stocks, with Maruti at the forefront.
Maruti Suzuki has achieved a significant milestone by entering the global top 10 automakers, surpassing Ford and Volkswagen. This success is attributed to India's GST reforms, which reduced car prices and boosted demand, especially during the Navratri festival. Maruti's stock has surged, driven by increased consumer confidence and foreign investor interest.