Maruti Suzuki Shares Fall 3% After Q2 Results; Jefferies Downgrades to 'Hold' on Market Share Worries

uki's stock declined over 3% to ₹15,676 in early trade on November 3, following the release of its Q2 FY26 results and a downgrade by global brokerage Jefferies. The brokerage lowered its rating to ‘Hold’ from ‘Buy’, citing concerns over declining market share amid rising competition in the passenger vehicle segment. Q2 FY26 Financial Highlights: Net profit: ₹3,293 crore, up 7% YoY (from ₹3,069 crore). Revenue from operations: ₹42,101 crore, up 13% YoY (from ₹37,203 crore). EBITDA: ₹4,434 crore, marginally up 0.4% YoY. EBITDA margin: Contracted to 10.53% from 11.87% a year ago.