From Hero Moto to M&M: A look at HDFC Securities' top pick in the auto space
Updated: 27 Apr 2022, 03:19 PM IST
TL;DR.After achieving its peak in FY19, the domestic auto industry has seen two years of decline up to FY21, before recovering slightly in FY22, over a very low base. The two-year industry decline has been led by multiple headwinds, which include sharp price hikes, COVID impact, sharp input cost pressure, and massive supply chain disruptions, etc. Going ahead, HDFC Securities expects the industry to face further incremental headwinds, at least for H1FY23, if not more. Let's look at its top picks in the sector.