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Informist, Friday, Mar. 13, 2026

MUMBAI – Automobile stocks are expected to remain under pressure in the near term due to rising fears about global geopolitical tensions and rising commodity prices leading to disruptions in production, according to analysts. Some analysts also expect these stocks to underperform the broad market in the near term, given the growth uncertainty along with margin risk stemming from the rising energy prices due to the ongoing war in West Asia.

This week, the Nifty Auto index declined nearly 11%, its worst weekly performance since March 2020, when a countrywide lockdown was announced in view of the COVID-19 pandemic. The ongoing war in West Asia, and rising commodity prices as a result, are creating dual risks of production disruption and cost inflation for the auto sector, according to brokerage JP Morgan. Further, potential disruptions to compressed natural gas availability at pumps may impact consumer preference, the brokerage said. Weakening consumer sentiment could also hurt the recovery that has been seen post the reduction in goods and services tax rate, it said.

Global shipping disruptions owing to the conflict between Iran and US-Israel combine and the near closure of the Strait of Hormuz are also seen impacting the exports of automobile companies. Global brokerage Nomura said Maruti Suzuki India, TVS Motor, and Bajaj Auto are the most exposed to gas shortages and higher spot gas prices. Among auto ancillary companies, Balkrishna Industries, Apollo Tyres, Uno Minda, and Bharat Forge have the highest exposure to impact from gas shortages.

On Friday, Nifty Auto index closed nearly 4% lower at 24195.10 points. "Going ahead, the next crucial support for the index is seen near 23100 (points), where the index may attempt to stabilise. However, until the index reclaims the 24200 (points) level, the broader technical outlook for the sector remains bearish," said Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities.

TOP HEADLINES

* Data Alert: Feb auto sales up 30% at 2.3 mln units; segment sales peak: SIAM
* HC rejects Volkswagen plea against Maruti Suzuki  'transformation' trademark
* Hero MotoCorp's income tax demand cut to INR 270 mln from INR 1.78 bln
* TVS Motor launches battery-as-a-service, Orbiter V1 e-scooter
* Uno Minda gets GST demand for INR 1.39 bln for HSN missclassification
* Ashok Leyland begins construction of battery pack mfg unit in Chennai
* HC notice to trademarks agency on Hero MotoCorp's plea in 'MotorHunk' case
* INTERVIEW: Too early to make sustainable jet fuel from ethanol - MEIR's Sood
* Ola Electric launches Champions Edition of S1 Pro+, Roadster X+
* B Srinivas appointed MD, CEO of Volvo Eicher Commercial Vehicles from Apr 1
* PRESS: Govt order on using propane, butane streams rattles auto industry
* M&M Feb total vehicle despatches up 18% YoY at 96,718 units
* Hyundai Motor launches facelift of Verna car, prices start at INR 1.10 mln
* TVS Motor gets bourses' nod to list 1.9 bln non-conv redeemable pref shrs
* Bajaj Auto arm repays 480 mln euro of 666-mln euro debt to global banks
* SC classifies aircraft engine stands as containers in IndiGo parent case
* Bharat Forge invests INR 1.6 bln in German arm Bharat Forge Global Holding
* CCI rejects plea vs InterGlobe Aviation, Air India on high cancellation fee
* Air India to levy additional fuel surcharge from Thu amid surging ATF prices
* InterGlobe CEO Pieter Elbers resigns, MD Rahul Bhatia to take interim charge
* PRESS: SpiceJet chair says fares unlikely to be stable amid high oil prices
* Minda Corp arm, UK's Turtide to form JV for electric vehicle products
* Data Alert: Freight traffic handled by major Indian ports up 8% YoY Apr-Feb
* ONGC allotted rights shares in two JVs with Mitsui of Japan in GIFT City
* Indian Railways' freight loading up 4% on year at 137.7 mln tonnes in Feb
* CRISIL reaffirms InterGlobe Aviation debt rtg, long-term outlook positive

Following are the resistance and support levels for key automotive stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by Arya S. Biju

Edited by Ashish Shirke

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