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Here are 7 auto stocks that are a buy according to the latest automobile report of Sharekhan.
| Current market price | Target price | Likely gains % | |
|---|---|---|---|
| Alicon Castalloy Limited | Rs 768 | Rs 1056 | 37.50% |
| Amara Raja Batteries | Rs 767 | Rs 1146 | 49.41% |
| Ramkrishna Forgings | Rs 1,145 | Rs 1,204 | 5.15% |
| Sundram Fasteners | Rs 922 | Rs 1,100 | 19.31% |
| Lumax Auto | Rs 140 | Rs 207 | 47.86% |
| Mayur Uniquoters | Rs 466 | Rs 670 | 43.78% |
| TVS Motors | Rs 562 | Rs 688 | 22.42% |
Sharekhan’s take on the auto sector
According to the above table, stocks like Amara Raja Batteries, Lumax and Mayur Uniquoters are good stocks to buy, which can give nearly 45 to 50% returns from current levels.
According to Sharekhan, the automotive monthly sales in September 2021 were broadly in line with its expectations, with commercial vehicles (CV) dispatches continuing to outperform other segments, while the passenger vehicle (PV) segment continues to impacted by chips shortage.
“Two-wheelers (2Ws) and tractor sales were muted due to high base and higher dealer inventory at the start of September month. Our channel checks suggest a strong rise in enquiries and order booking across segments and expect strong sales in the festive season going ahead, though the PV segment is expected to be subdued to supply issues. Moreover, automobile companies are launching new and upgraded models. We expect commercial vehicles (CV) sales to recover strongly, followed by tractors, 2W (2W), and passenger vehicles,” the brokerage has said.
Disclaimer
The above stocks are picked from Sharekhan’s latest report on the aut sector. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.
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