Elara Sees Sharp Divergence In Auto Stocks Amid Demand Volatility
Elara Securities’ May 24 sector report flags high volatility in India’s auto stocks, citing slowing demand, global uncertainty and margin pressure. It sees Eicher Motors as a top bullish bet: target Rs 11,712 vs Rs 6,908 (nearly 70% upside), with revenue rising from Rs 2.26 lakh crore (FY26) to Rs 3.5 lakh crore (FY29). TVS Motor: target Rs 572 vs Rs 380 (up to 50%). Tata Motors faces downside risk up to 45% (target Rs 200 vs Rs 362).