Credit Suisse calls Maruti the ‘top pick’ in Indian autos, while retaining it’s ‘outperforming’ rating.

Credit Suisse expects the industry to witness a 12 percent compounded annual growth rate (CAGR) and Maruti to grow faster on a 5 percent market share gain in the next three years.

It is worth mentioning that the domestic market share of the company has risen to 44 percent in June quarter compared to 40.4 percent in the year-ago with urban sales increasing by 12.4 percent and rural market sales rising by 26 percent in Q1FY15.

While in past four years the brokerage divided increase in Maruti's discounts in the past four years; one from the competitive intensity and second is pertaining to a weak economy.

"However the focus on new launches has largely been on sedans and SUVs, the launch of the small diesel engine is equally, if not more, important. The 800cc engine to be used on the new LCV and existing compact hatches could add 100,000 units in FY17," said Credit Suisse.