The Nifty Auto Index made an impressive 1.09 percent leap on Thursday, nearing its 52-week high of 16428 at 16169.65.
With auto stocks gaining momentum, this index has surged over 31 percent in the past six months.
For those eyeing auto shares, here are three top stock picks from market experts poised to bring wealth in the days ahead.
Ashok Leyland – Target: Rs 225
Ashok Leyland Limited is our first pick, expected to reach Rs 225 in the near future.
Domestic brokerage firm Prabhudas Lilladher recommends buying Ashok Leyland, which closed at Rs 180.05 on Thursday.
Its 52-week high stands at Rs 191.50, and the low is Rs 133.10. Out of 32 analysts, 28 advise buying, 3 suggest selling, and one recommends holding.
Tata Motors – Target: Rs 760
Tata Motors is the second contender, with the potential to reach Rs 760 in the coming days.
Although it closed in the red on Thursday at Rs 624.70, Prabhudas Leeladhar maintains its target price at Rs 760 and recommends investing in the stock.
Over the past six months, Tata Motors has seen a remarkable 51 percent increase.
Its 52-week high and low are Rs 665.40 and Rs 375.20, respectively. Out of 23 analysts, 21 suggest buying, while two recommend selling.
Tata Motors’ Nexon Shows Promise – Target: Rs 786
Foreign brokerage firm Nomura India is optimistic about Tata Motors’ new Nexon (ICE) and EV variants.
It sees the Nexon as a strong contender in the SUV market, offering advanced technology and features.
Nomura India maintains a ‘buy’ rating on Tata Motors Limited with a target price of Rs 786.
Hero MotoCorp – Target: Rs 3630
Another stock garnering bullish sentiments is Hero MotoCorp, poised to potentially reach Rs 3535 in the upcoming festive season.
It closed at Rs 3000 on Thursday, with its 52-week high at Rs 3244 and low at Rs 2246. Over the past six months, it has shown a 26 percent increase.
Prabhudas Lilladher has set a target price of Rs 3535, while Motilal Oswal suggests a target of Rs 3630, with both brokerage firms advising buying this stock.
