Reliance Securities positive on Maruti; expects rebound in two-wheelers by Q2FY23

Reliance Securities is positive on Maruti, Mitul Shah, head-research, told CNBC-TV18.

Autos are in focus as several large companies have pointed to a pickup in demand. There are indications of supply-side issues easing and production ramping up as well as enquiries and bookings coming back despite price hikes.

In an interview to CNBC-TV18, Shah said, “We are positive on Maruti but after a recent run-up, the upside is limited. On the other hand two-wheeler, same story, negative right now and probably it would continue like this for next 2-3 months.”

“However, going into FY23 or probably by Q2, we believe that there would be a sharp rebound in the two-wheeler segment,” he said.

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