Budget 2025: Auto stocks down by up to 40% from 52-week peak. Can these 3 grants by FM Sitharaman turn things around?
FII sell-offs and expectations of earnings downgrades across companies. As the industry looks for certain reliefs in the February 1, 2025, Union Budget to rekindle demand, D-Street will closely monitor how many of these requests are addressed by Finance Minister Nirmala Sitharaman.
Exide Industries and Tata Motors have witnessed the steepest decline in the 18-stock BSE Auto index, followed by Hero MotoCorp, Bajaj Auto, Samvardhana Motherson International, Bharat Forge, Tube Investments of India, and Sundram Fasteners, each falling by over 30% from their peaks. Meanwhile, Apollo Tyres, UNO Minda, MRF, TVS Motor Company, Ashok Leyland, Bosch, and Balkrishna Industries have fallen between 28% and 21%.
Mahindra & Mahindra, a star performer among large OEMs with 1-year returns of 72%, is down 13%, while Maruti Suzuki India (MSIL) is trading 12% lower than its 52-week high. Royal Enfield maker Eicher Motors has fallen nearly 5%.
Budget 2025: 8 fertilizer, sugar stocks outperform Nifty significantly since Feb's Interim Budget; Deepak Fertilizers turns multibagger
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