Auto Q3 Result Review: Expect positive momentum to sustain, says Nuvama; picks Hero Moto, M&M, Minda
Tata Motors Ltd.) increased by 17% YoY, and earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 33% YoY, driven by improved scale/net pricing and a stable currency movement. Also Read: Stocks to buy: NCC, Talbros Automotive among three fundamental stock picks by HDFC Securities Ceat Ltd, Escorts Kubota Ltd, Tata Motors Ltd, Shriram Automall India Limited, Motherson Sumi Wiring India Ltd, and TVS Motor Co Ltd are among the firms the brokerage recognised as having strong EBITDA growth (40%-plus).
In comparison to low single digit growth for passenger cars and commercial vehicles, the brokerage stated that it expects 2W and tractor volumes to expand in the high single digits over FY24–26E. Also Read: Nifty Auto outperforms with 10% YTD gains; Analysts careful on sector; Hero Moto, M&M, Maruti Suzuki among top picks "Exciting news! Mint is now on WhatsApp Channels
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