Big Moves in the Automotive Sector
Market experts have shown a keen interest in the shares of three automotive companies, predicting significant gains soon. This follows as the Nifty Auto Index spiked by 1.09% to 16,169.65 on Thursday, coming close to its 52-week high of 16,428. The index has seen a rise of over 31% in the last six months.
Ashok Leyland: A Strong Buy
Leading the list is Ashok Leyland Limited, with experts predicting its stock price to reach ₹225 in the coming days. The domestic brokerage firm Prabhudas Lilladher recommends buying, setting a target of ₹225. The stock closed at ₹180.05 on Thursday with a 52-week high of ₹191.50 and a low of ₹133.10. Out of 32 analysts, 28 recommend buying the stock, three suggest selling, and one advices to hold.
Tata Motors: Upside Potential
Next on the list is Tata Motors, with a target price set at ₹760. Closing at ₹624.70 on Thursday, the company has seen a 51% increase in stock price over the last six months. Its 52-week high and low are ₹665.40 and ₹375.20, respectively. Of the 23 analysts covering the stock, 21 recommend buying while two suggest selling.
Hero MotoCorp: Seasonal Surge Expected
Lastly, Hero MotoCorp has bullish forecasts from market experts as well. Closing at ₹3000 on Thursday, its stock is expected to reach ₹3535 according to Prabhudas Lilladher, and ₹3630 as per Motilal Oswal. The stock has gained 26% over the last six months, with a 52-week high of ₹3244 and a low of ₹2246. Both brokerage firms recommend buying the stock.
| Company | Current Price | Target Price | 52-Week High | 52-Week Low | 6-Month Growth |
|---|---|---|---|---|---|
| Ashok Leyland | ₹180.05 | ₹225 | ₹191.50 | ₹133.10 | 31% |
| Tata Motors | ₹624.70 | ₹760 | ₹665.40 | ₹375.20 | 51% |
| Hero MotoCorp | ₹3000 | ₹3630 (Oswal) | ₹3244 | ₹2246 | 26% |
For investors keen on the automotive sector, these stocks come highly recommended by experts, promising potentially lucrative returns.
