Apart From MRF, These Auto Stocks Could Drive Up Returns In 2023

By: FPJ Web Desk | June 15, 2023

A lot of investors may be wishing they had stocked up on tyremaker MRF's shares as they hit a psychologically important level of Rs 1 lakh per unit, which does drive market sentiment.

As the reliable truckmaker moves towards electrification of public transport and road transport, Ashok Leyland is a reliable bet as India is focusing on logistics for growth.

After catering to the demand for affordable hatchbacks with Swift and Alto for decades, Maruti Suzuki is on the right track with SUV Jimny and MPV Invicto. These moves translate into a positive outlook for its stock.

Hero Motocorp may have lost some market share to its former partner Honda Motorcycles, but it still remains the top two-wheeler stock on Indian exchanges alongside Bajaj.

Not only has Tata been consistent with its offerings in the SUV market that is gathering steam, but it has also emerged as the top EV seller in the country. Besides one of the oldest and most reliable conglomerates in the country is always a good stock market bet.