<div id="readability-page-1"><div>By Kashish TandonApril 29 (Reuters) - Shares of Maruti Suzuki India gained as much as 5.1% on Wednesday as investors looked past near-term margin pressures to bet on strong ‌demand for its small cars and a brighter volume outlook.The stock settled 2.8% higher and ‌added 117.27 billion rupees ($1.24 billion) in market valueIt was the top boost on the auto index, which ended 1.2% higher.India's ​top carmaker reported profit of 35.91 billion rupees ($379 million) for the quarter ended March 31 on Tuesday, missing analysts' estimates of 41.38 billion rupees.The decline was driven by higher raw material costs and a sharp fall in other income, but the carmaker flagged strong demand momentum for its small cars despite mounting risks ‌from the Iran war.&#34;Small cars account ⁠for about 130,000 of the 190,000 pending orders,&#34; Chairman RC Bhargava said.The company also outlined plans to expand manufacturing capacity by about 500,000 units in the ⁠current fiscal year with an investment of $1.48 billion.The stock rebounded from Tuesday's losses as analysts pointed to a strong order book, leaner dealer inventories and easing discounts as signs of resilient underlying demand.While demand could soften ​in the ​coming quarters, consumer appetite was strong till March, ​reflected in low inventories, offering near-term support ‌despite mounting cost pressures, said Gaurav Vangaal, an analyst at S&amp;P Global Mobility.CLSA described the results as &#34;resilient amidst odds,&#34; saying Maruti managed to limit the impact of commodity inflation to around 80 basis points quarter-on-quarter through product mix improvements, tighter vendor management and lower discounts.The carmaker also forecast about 10% volume growth in the current fiscal, which analysts said reinforced confidence in sustained demand.Elara analysts said Maruti continues ‌to expect buoyant demand, with its volumes expected to ​grow by 10% in fiscal 2027, and very limited impact ​of war on demand. However, macroeconomic factors ​with elevated commodity costs remain challenging, they said.However, BofA Global Research struck a ‌more cautionary note, warning that margin headwinds from ​elevated commodity prices and ​the commissioning of new capacity could persist.&#34;While volume growth looks achievable, margins remain a sore point for now,&#34; BofA said.HSBC and Investec also flagged resilient demand but warned that margin pressures ​could cap near-term upside unless ‌pricing action is taken.Year-to-date, the stock is down 20.6% and remains the worst performer ​on the auto index, which is down 7.5%.($1 = 94.8450 Indian rupees)(Reporting by Kashish Tandon and ​Pranav Kashyap in Bengaluru; Editing by Sumana Nandy)</div></div>

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Shares of Maruti Suzuki India rose 5.1%, adding $1.24 billion in market value, driven by strong demand for small cars. The company reported a profit of $379 million for Q1, below estimates, due to rising raw material costs. Despite challenges, Maruti plans to expand manufacturing capacity by 500,000 units with a $1.48 billion investment. Analysts expect 10% volume growth, although margin pressures from commodity prices remain a concern. Year-to-date, the stock is down 20.6%, the worst performer on the auto index.

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India's Maruti Suzuki adds $1.24 billion in market value as small cars get popular