Tata Motors, Maruti Suzuki to M&M: Top Gear in Auto Stocks. Should you buy?

Stocks to buy today: After the breakout in BSE Auto index last week, most of the auto majors are at a faster rate this week. In the last 5 sessions, Tata Motors share price has risen by as much as 6 per cent after Maruti Suzuki has surged over 8 per cent in this period. M&M share price has shot up more than 4 per cent in the last 5 sessions while TVS Motor share price appreciated at 4.50 per cent this time horizon.

According to stock market experts, the BSE Auto Index, the most recent of the auto stocks, is one of the major reasons for appreciating auto stocks. They said that after the recent sell-off triggered Russia-Ukraine wear, auto stocks are available at attractive valuations. They went on to add that the weakness in the markets is mainly due to the weakness in the US economy. So, once there will be a rebound in the markets, auto stocks will be one of the engines in rising Indian stock market.

Choice Broking at Sumeet Bagadia, Executive Director, “BSE Auto Index Last Week Pattern and giving upside movement in high volatility markets. ”

Highlighting the fundamentals of auto stocks at Dalal Street, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, “In rebound post-Covid, auto stocks have non-participating auto stocks. Russia-Ukraine war, weakness in the US economy, etc. So, in the current scenario, there is nothing wrong with the Indian economy. So, once there is a trend of reversal auto stocks, one of the major engines of the company is expected to drive the Indian stock market. “

At current levels, Avinash Gorakshkar of Profitmart Securities said, “High end four wheelers are expected to outperform two wheeler and basic model four wheeler sales. So, I suggest positional investors looking at M&M shares in their stock portfolio. “

For short term investors, Choice Broking of Sumeet Bagadia is the next term in the 10-cent upside of expecting to buy TVS Motor shares.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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