Nomura names M&M, Hyundai India, Ather as top auto picks after strong June sales
Nomura flagged Mahindra & Mahindra, Hyundai India, and Ather Energy among its preferred auto sector plays on the back of robust June sales, signaling positive momentum for Indian mobility-retail players.
What happened
Nomura named Mahindra & Mahindra, Hyundai India, and Ather Energy among its top auto sector picks after strong June sales, signaling positive momentum for
Why this matters
The clustering of M&M, Hyundai India, and Ather as preferred mobility-retail plays highlights consolidating analyst conviction in Indian auto, worth monitoring for partnership or positioning opportunities in the EV and mass-market segments Ather and Hyundai represent.
What to watch
- July/August wholesale dispatch figures (SIAM/FADA data)
- Monsoon progression impacting rural two-wheeler and tractor demand
- Ather listing/funding developments and EV subsidy policy (FAME/PLI) updates
- Input cost trends (steel, battery cells) affecting auto margins
- Competing EV two-wheeler launches and price cuts
- Watch for follow-on rating actions from peer brokerages (Motilal, Jefferies, CLSA) confirming or diverging
- Monitor July monthly sales dispatch numbers for continuation of June strength
- Track EV segment share shifts affecting Ather positioning vs incumbents
- Assess rural demand and festive-season pre-buying commentary from OEM management