Auto Sector Stocks To Buy In India

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In FY 2023-24, auto companies recovered strongly after their performance was badly affected due to the pandemic in 2021. Even in FY 2024-25, these companies are expected to perform well. As the original equipment manufacturers are likely to do well, even the spare parts manufacturers are expected to register growth. Therefore, in this blog, we will talk about the auto sector stocks to buy in India.

Highlights

Maruti Suzuki

Maruti Suzuki is behind the passenger car revolution in India. Over the years, it has been the most-favored brand of cars in the country. Throughout FY 2023-24, the company posted significant growth over the previous financial year. For example, its net sales and net profit in the December 2023 quarter registered a growth of 14.7% and 33.1%, respectively, over the December 2022 quarter. 

Additional Read: Maruti Suzuki India Ltd

Hero MotoCorp

Hero MotoCorp is the largest manufacturer of two-wheelers in India and also in the world. Just as Maruti Suzuki dominates the passenger car market, Hero MotoCorp rules the two-wheeler market. The company has a strong hold over the market in semi-urban and rural areas, where it is the most preferred brand when it comes to buying motorcycles. It has a wide network of showrooms and service centres all over the country. Its revenue and net profit in the December 2023 quarter registered a growth of 21.1% and 51%, respectively, over the December 2022 quarter.

Additional Read: Hero MotoCorp Ltd

Mahindra & Mahindra

One of the largest automotive companies in India, Mahindra & Mahindra, is a manufacturer of tractors and sports utility vehicles. It is the largest manufacturer of tractors worldwide by volume. Apart from that, it also has a presence in vehicle & equipment financing and information technology verticals. Therefore, it can be said that Mahindra & Mahindra is a well-diversified company. The company also witnessed growth in FY 2023-24. Its revenue and net profit grew by 18.4% and 60.6% in the December 2023 quarter over the corresponding period previous year.

Additional Read: Mahindra & Mahindra Ltd

TVS Motor Company

TVS is one of the leading manufacturers of motorcycles, scooters, mopeds, and three-wheelers in India. Through its brands like Apache and Jupiter, it has captured the imagination of consumers. It has also started making electric scooters. The company is at the forefront of technology and innovation in the automobile industry. Over the years, its revenue and profit have increased significantly, which makes it one of the auto sector stocks to consider in India.

Additional Read: TVS Motor Company Q4 Results

Bajaj Auto

Bajaj Auto is a leading manufacturer of motorcycles and three-wheelers in India. Earlier, it was a prominent manufacturer of scooters. Subsequently, it ventured into the motorcycle segment by launching Pulsar and took the market by storm. It has a huge network of sales and service outlets all over the country. Besides, it is one of the most aggressive automakers in terms of launching new products. Investors can certainly consider this stock, as the company has posted impressive numbers recently. Its revenue and net profit grew by 22.7% and 32.9%, respectively, in FY 2023-24 over FY 2022-23.

Additional Read: Bajaj Auto Ltd

Ashok Leyland

Ashok Leyland is one of the largest manufacturers of commercial vehicles and buses in India. Owned by Hinduja Group, Ashok Leyland is a significant player in the automobile industry in the country. As per its recently announced results, the company has emerged as a market leader in the medium & heavy commercial vehicles bus segment. The company is also an important player in the export segment. In FY 2023-24, its profit after tax and operating profit grew at 90% and 92%, respectively, compared to FY 2022-23. Investors can consider this stock, as it is growing at a very high rate.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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