Nomura reiterates 'Buy' on M&M, Hyundai India, Ather ahead of strong June auto sales
Nomura expects robust June auto sales in India, reiterating 'Buy' ratings on Mahindra & Mahindra, Hyundai Motor India, and Ather Energy, pointing to positive momentum across the mobility retail segment.
What happened
Nomura expects strong June auto sales in India and reiterates 'Buy' ratings on Mahindra & Mahindra, Hyundai Motor India, and Ather Energy, signaling positive
Why this matters
Broad-based auto retail strength across mainstream and EV players (Ather) points to a rising mobility segment worth monitoring for partnership or acquisition angles.
What to watch
- June wholesale dispatch numbers from SIAM/individual OEMs (1-3 July)
- FADA retail registration data as demand-quality check
- Rural demand signals and monsoon progress affecting tractor/2W (M&M, Ather)
- Inventory-to-sales ratios flagging channel stuffing risk
- EV subsidy/policy commentary impacting Ather
- Peers (Maruti, Tata Motors, TVS, Bajaj) get comparative reads-through; other brokerages issue preview notes
- Institutional positioning ahead of month-end volume disclosures (1-2 July)
- Ather Energy watched closely given lower liquidity and higher volatility vs. large caps
- Auto ancillary and dealer-finance names rerated on volume tailwind expectations