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You are at:Home»Business»Auto Sector may see double digit Growth in FY23; This analyst recommends Bajaj Auto, Hero Motocorp, others
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Auto Sector may see double digit Growth in FY23; This analyst recommends Bajaj Auto, Hero Motocorp, others

By June 23, 2022No Comments2 Mins Read
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Auto stocks have been witnessing huge growth. Will auto stocks grow further from here? Are there specific triggers that could result in a further uptick in auto stock? Khusal Gupta brings a detailed report.

Sector related triggers in the market are triggering the auto stocks, and the move has been more significant in this financial year and are expected to remain strong over the remaining part of this financial year.

Analysts are expecting voluminous growth in FY23. Double-digit growth is expected in all segments of FY23, they opine. 

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There are multiple key factors to it, and particularly the growth expected in passenger vehicles segment. 

In SUV, MPV a voluminous increase from FY19 is expected. Addition of  16 lakh vehicles in FY23 might be seen.

Import Duty on steel exports has led to fall in domestic steel prices, helping improve margins since steel is the main manufacturing material and contributes up to 60 per cent of the cost. 

A fall in Crude Oil recently may act as a demand booster, Gupta said in his research report.

Largely, the commercial vehicle segment can also act as a demand booster as replacement demands are increasing.

Two-wheelers and tractor space will also be in focus. The recovery of the economy in rural areas will benefit these two segments a lot.

Semiconductors issue is likely to be resolved by September-October completely, Motherson Sumi management said.

After 3 year of some tight corners, better days are being seen in India’s automotive market, and have been in focus from the past 1.5-2 months.

Positive factors like relief in margins, better demand, supply shortages being reduced, have been adding to the growth. Customers in the passenger vehicle segment continue to witness long waiting periods due to rise in demands.

Sandeep Jain recommended Bajaj Auto, Hero Motocorp Ltd,Ashok Leyland, Jamna Auto, Maruti Suzuki.

He added, crude oil falling down,demand being created,semiconductor issues being solved and improved margins have helped. Waiting list for the vehicle can be be seen, he witnessed

He further added that he remains bullish on the sector. 



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