Maruti stock has been underperforming for the last few years and its current challenges are likely to keep the stock stagnating between Rs 7,500 and Rs 9,000, says Naveen Kulkarni, CIO, Axis Securities. The Q1 FY22 results showed the company's revenue was lower than expected, but the PAT was in line with expectations. The stock's performance will depend on management commentary regarding demand and supply challenges for the company. If these challenges continue, the stock is likely to remain sideways over the next 6-12 months.