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