7 auto stocks to buy according to Sharekhan’s auto report

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Here are 7 auto stocks that are a buy according to Sharekhan’s latest auto report.

Current market price Target price Probable gains%
Alicon Castalloy Limited 768 rupees 1056 rupees 37.50%
Amara Raja batteries 767 rupees 1146 rupees 49.41%
Ramkrishna Forges 1 145 rupees 1 204 rupees 5.15%
Sundram bindings Rs 922 Rs 1,100 19.31%
Lumax Auto Rs 140 207 rupees 47.86%
Mayur single-handlers 466 rupees 670 rupees 43.78%
TV motors 562 rupees 688 rupees 22.42%
Sharekhan's perspective on the automotive industry

Sharekhan’s perspective on the automotive industry

According to the table above, stocks like Amara Raja Batteries, Lumax and Mayur Uniquoters are good stocks to buy, which can give almost 45-50% return from current levels.

According to Sharekhan, monthly auto sales in September 2021 were broadly in line with expectations, with commercial vehicle (CV) shipments continuing to outperform other segments, while the passenger vehicle (PV) segment continues to be affected. by the shortage of chips.

“Two-wheeler (2W) and tractor sales were reduced due to a high base and higher dealer inventory at the start of September. to come, although the photovoltaic segment is expected to be subject to supply problems. In addition, car manufacturers are launching new and improved models. We expect a strong recovery in commercial vehicle (CV) sales, followed by tractors, 2Ws (2Ws) and passenger vehicles, ”the brokerage said.

Disclaimer

Disclaimer

The above actions are taken from Sharekhan’s latest auto industry report. Investing in stocks presents a risk of financial loss. Investors should therefore exercise caution. Greynium Information Technologies Pvt Ltd, the author and the brokerage are not responsible 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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