Extension of a ban on larger diesel vehicles in the Kerala region and continuing ban in the NCR coupled with the downtrend in the diesel segment dragged the industry growth to mid single digits. Sharekhan is bullish on Maruti Suzuki and Mahindra & Mahindra. Honda Motorcycles, Scooters India and TVS Motor Company reported double-digit yoy growth in sales led by higher scooter sales. Hero MotoCorp hit its new 52-week high of Rs 3207.90 on June 3. Post May sales figures, Motilal Oswal maintained buy rating on Maruti Suzuki, Tata Motors, Ashok Leyland, Eicher Motors, Hero MotoCorp and TVS Motor with target price of Rs 4,525, Rs 524, Rs 124, Rs 20,376, Rs 3325 and Rs 339, respectively. With agency inputs