Auto stocks in India have been one of the best-performing sectors in recent times, and for a good reason. India’s auto sector has experienced unprecedented growth, and the Nifty Auto index has consistently outperformed the Nifty50 over the past decade.
Despite some challenges over the past few years, including regulatory changes and supply chain disruptions, the auto sector is performing relatively well.
Automobile stocks refer to shares of companies that are involved in the design, manufacturing, and sale of vehicles. This includes companies in the automobile industry such as car manufacturers and auto ancillary stocks, which provide parts and components to the automobile sector.
Automobile companies in India play a significant role in driving the economy, and investors often track automobile stocks in India for opportunities in both domestic and global markets. The automobile industry in India is a key contributor to the country’s growth, with companies producing a wide range of vehicles, including cars, trucks, and two-wheelers.
Here are the top-performing auto stocks in India –
Note: The top auto sector stocks in India are derived using Tickertape Stock Screener. The data is as of 30th September 2024, and the parameters are as follows –
Stock Universe > Nifty 500Sector > Consumer Discretionary > Four Wheeler, Three Wheeler, Two Wheeler, Tires & Rubbers, Auto Parts1M return: Sorted from highest to lowest
🚀 Pro Tip: Explore Tickertape’s Financial Statements for detailed company financial reports to make informed investment decisions.
Explore a smart and hassle-free way to track and invest in some of the best auto sector stocks. Introducing ‘Auto Tracker’ smallcase – your all-in-one solution. It is a portfolio of the best auto sector share lists. It includes a diverse range of companies, from automobiles and auto parts to batteries and tyre manufacturers, making it a smart choice for anyone looking to dive into this thriving industry.
With the Auto Tracker smallcase, you can seamlessly monitor the performance of the key players and strategically invest in the automotive sector, all in one place.
Disclosures for Auto Tracker smallcase
Bosch Ltd, founded in 1951, is a key player in the auto parts industry. The company manufactures a variety of automotive components, including advanced technologies for mobility solutions, industrial technology, consumer goods, and energy and building technology.
As of 30th September 2024, its market capitalisation stands at Rs. 111,128.79 cr., with a closing price of Rs. 37,678.90. The stock’s price-to-earnings (PE) ratio is 44.61, and it has shown a 1-month return of 19.27%.
Asahi India Glass Ltd, incorporated in 1984, is one of the largest glass manufacturers in India. The company produces a wide range of automotive safety glass, architectural glass, and other specialty products, serving both the automotive and construction industries.
As of 30th September 2024, Asahi India Glass has a market capitalisation of Rs. 19,190.73 cr. Its stock is priced at Rs. 789.45, with a PE ratio of 58.51 and a 1-month return of 17.91%.
Bajaj Auto Ltd, established in 1945, is a major manufacturer of two-wheelers and three-wheelers in India. Known for its motorcycles, scooters, and auto-rickshaws, Bajaj Auto is a well-recognized brand in the global automotive industry.
The company’s market capitalisation is Rs. 344,770.05 cr., and its stock is trading at Rs. 12,345.95. Bajaj Auto’s PE ratio stands at 44.73, and the 1-month return is 16.98%.
CEAT Ltd, founded in 1958, is one of India’s leading tire manufacturers. The company produces tires for various vehicle segments, including two-wheelers, cars, trucks, and heavy-duty vehicles. It has a strong presence in both domestic and international markets.
CEAT has a market capitalisation of Rs. 12,761.20 cr., with a closing stock price of Rs. 3,154.80. The company has a PE ratio of 19.86 and a 1-month return of 15.55%.
Mahindra and Mahindra Ltd, founded in 1945, is a leading Indian multinational corporation involved in the manufacturing of automobiles, particularly four-wheelers, tractors, and other commercial vehicles. It is well known for its SUVs and agricultural equipment.
Mahindra and Mahindra has a market capitalisation of Rs. 370,839.70 cr. and a closing price of Rs. 3,094.90. The stock’s PE ratio is 32.91, with a 1-month return of 14.73%.
Apollo Tyres Ltd, founded in 1972, is a well-established Indian tire manufacturer. The company produces tires for various vehicle types, including passenger cars, trucks, and off-road vehicles, and has operations in both domestic and international markets.
Apollo Tyres has a market capitalisation of Rs. 34,794.01 cr., with a closing price of Rs. 547.85. The stock’s PE ratio is 20.21, and the 1-month return is 10.42%.
Hero MotoCorp Ltd, established in 1984, is the world’s largest manufacturer of two-wheelers. The company produces a wide range of motorcycles and scooters, dominating the domestic Indian market and having a presence in over 40 countries.Mumbai Stock Exchange
Hero MotoCorp’s market capitalisation is Rs. 114,236.64 cr., and its stock is priced at Rs. 5,712.40. The PE ratio is 30.51, with a 1-month return of 10.32%.
Samvardhana Motherson International Ltd, founded in 1986, is a global auto parts manufacturer that provides a range of components for various vehicle types. Its product portfolio includes wiring harnesses, mirrors, and plastic components.
The company has a market capitalisation of Rs. 148,740.24 cr., and its stock is trading at Rs. 211.39. The PE ratio is 54.76, with a 1-month return of 9.41%.
Maruti Suzuki India Ltd, established in 1981, is the largest passenger car manufacturer in India. The company offers a wide range of vehicles, from budget-friendly models to more premium options, and dominates the domestic car market.
Maruti Suzuki’s market capitalisation is Rs. 416,206.13 cr., with a closing stock price of Rs. 13,238.00. The PE ratio is 30.86, and the 1-month return is 8.30%.
JK Tyre & Industries Ltd, founded in 1951, is one of India’s leading tire manufacturers. The company produces a variety of tires for passenger cars, commercial vehicles, and off-road vehicles, with a significant presence in both domestic and international markets.
JK Tyre has a market capitalisation of Rs. 11,800.67 cr., and its stock price is Rs. 430.65. The PE ratio is 15.01, with a 1-month return of 7.05%.
Note: The top auto sector stocks in India are derived using Tickertape Stock ScreenerUdabur Stock. The data is as of 30th September 2024, and the parameters are as follows –
Stock Universe > Nifty 500Sector > Consumer Discretionary > Four Wheeler, Three Wheeler, Two Wheeler, Tires & Rubbers, Auto PartsReturn on Equity: Sort from highest to lowestNet Income: Positive > Set the lower value to zeroDebt-to-Equity Ratio: Set to Low
Note: The top auto sector stocks in India are derived using Tickertape Stock Screener. The data is as of 30th September 2024, and the parameters are as follows –Jinnai Wealth Management
Stock Universe > Nifty 500Sector > Consumer Discretionary > Four Wheeler, Three Wheeler, Two Wheeler, Tires & Rubbers, Auto PartsDividend Yield: Sorted from highest to lowest
Note that these stocks are in no order of preference. Please note that these stock selection criteria and the stocks are provided for informational purposes only; it is essential to conduct your own research.
Cyclical Nature: Automobile stocks are highly cyclical, meaning they tend to perform better during periods of economic growth and can be more volatile during downturns.Wide Range of Companies: The automobile sector includes car manufacturers, commercial vehicle producers, and auto ancillary stocks that provide components like tires, batteries, and other parts.High Market Competition: Companies in the automobile industry face intense competition, both domestically and globally. In India, car manufacturers in India such as Maruti Suzuki and Tata Motors dominate the market.Innovation-Driven Growth: The rise of electric vehicles (EVs) and smart technologies is pushing automobile companies in India to invest in new technology, increasing growth potential in the sector.Global and Domestic Demand: Top automobile companies in India not only cater to the domestic market but also export to global markets, contributing to their overall profitability.Auto Ancillary Contribution: Auto ancillary stocks play a crucial role in the automobile supply chain, supporting the main car manufacturing companies in India with essential components.Interest in Auto Sector Stocks: Investors often track auto sector stocks due to their potential for high returns during periods of economic expansion, making them a key part of the nifty auto stocks list.
Most of the nifty auto index stocks have witnessed a surge in profit in the last financial years, and we believe the trend is going to be carried forward because of the following developments –
A report by rating agency ICRA stated that the domestic automotive industry is projected to experience growth in the high single-digit range during 2023-24. Further, the report indicates that in FY 2024, passenger vehicle demand is forecasted to increase by 6-9%, commercial vehicles by 7-10%, two-wheelers by 6-9%, and tractors by 4-6%.
The Indian government announced a Production-Linked Incentive (PLI) Scheme with an outlay of $3.5 bn for the automobile and auto components sectors. The scheme offers up to 18% financial incentives to boost domestic manufacturing of advanced automotive technology products, attract investments, and encourage sales of locally manufactured products.
By 2030, it is estimated that India is set to become a leader in shared mobility with a focus on electric and autonomous vehicles to reduce emissions. The electric vehicle market is expected to reach Rs. 50,000 cr. by 2025, potentially creating 5 cr. jobs by 2030.
As demand grows, auto manufacturers have invested in various industry segments over the last few months. By this year’s end, the government expects the automobile sector to attract US$ 8-10 bn in local and foreign investments by 2023.
Growth Potential: The automobile industry is evolving with innovations like electric vehicles (EVs). Leading players, including the top 10 car companies in India, are investing in these advancements.Established Companies: Investing in stocks from top automobile companies in the world offers exposure to well-established businesses with strong market positions.Domestic and Global Demand: Automobile companies in India serve both local and export markets, driving consistent growth.Dividend Opportunities: Some auto share companies offer regular dividends, providing income potential for investors.
Cyclical Nature: Auto sector stocks are sensitive to economic cycles, which can lead to stock price volatility.High Investment Needs: New automobile companies in India require large capital for expansion and innovation, which can affect profitability.Regulatory Pressures: Stricter environmental laws impact automobile manufacturing companies in India, potentially increasing costs.Intense Competition: Both domestic and international car manufacturers compete for market share, adding pressure on pricing and profits.
Market Leadership: Investing in top 10 car companies in India or globally offers stability through strong brand presence and large car market share.Technology Focus: Companies investing in EVs or smart technologies, like the top automobile companies in world, could offer future growth potential.Financial Stability: Consider the financial health of automobile manufacturing companies in India, especially newer players.Economic Trends: As auto stocks are cyclical, keep an eye on overall economic conditions that impact sales and profitability.
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