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Nifty Auto surged 75% in FY24. Will FY25 follow a similar trend? Between passenger vehicles (PVs), commercial vehicles (CVs), and two-wheelers (2W), which segment will lead? Here's what experts believe.
It would be best to enter 2024 with low return expectations from the market, believes brokerage house Kotak Institutional Equities. There is very little value in the market across the capitalisation spectrum after the recent run-up in the mega-cap names, it said.
Domestic brokerage house Motilal Oswal stated that it has shifted focus towards 2Ws amid the initial PV slowdown. Moreover, MHCVs (medium and heavy commercial vehicles) remain stable, it added.
The auto space is back in the game. The decline in major commodity prices has been fruitful and margins have already started to improve. Will the upcoming festive season be a game changer for the auto space?
The brokerage recommends buying Hero Moto in cash at ₹3,170 and add up to ₹3,080 for a target price of ₹3,620 for a duration of 1-3 months. This target indicates an upside of 14.5 percent.