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The Economic Times
The Economic Times
Debaroti Adhikary

Nomura names M&M, Hyundai, Ather Energy as top picks after June auto sales; says EV penetration at inflection point

Nomura Ather Energy Hyundai India Mahindra Mahindra Sona BLW Precision Forgings

After strong June auto sales data, Nomura said that India’s EV penetration is at an inflection point, while naming Mahindra & Mahindra (M&M), Hyundai India, Ather Energy and Sona BLW Precision Forgings as its top auto picks.

In its latest note, the international brokerage said that healthy demand momentum continued across auto segments in June. Medium to Heavy Commercial Vehicles (MHCV) wholesale volumes were significantly higher than estimates, led by easing geopolitical concerns and news of a possible steep 2.5% price hike from July.

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The Economic Times
The Economic Times
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