Auto Stocks Outlook
Shares to remain rangebound amid market volatility
This story was originally published at 22:16 IST on 30 April 2026
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MUMBAI – The Nifty Auto index, which snapped a two-week losing streak Friday, is expected to move in a range next week as the market navigates the current streak of uncertainty, technical analysts said. Friday, the sectoral index closed 0.6% lower at 25917.60 points. For the week, however, it closed 1% higher, faring better than the Nifty 50 and the Nifty 200 indices, which closed 0.4% higher.
"Nifty Auto index has been consolidating in the 25300-26800 range for the last couple of weeks. Either side break from this range will set the stage for the next short-term directional move in that direction," said Vipin Kumar, a technical analyst at Globe Capital Market. He has pegged the immediate resistance for the Nifty Auto at 26500 to 26800 points and the support between 25300 and 26350 points.
For the week, shares of eight firms that are part of the 15-stock Nifty Auto closed higher. Sona BLW Precision Forgings closed almost 6% higher to emerge as the biggest gainer. Ashok Leyland, Samvardhana Motherson International, and Tube Investments of India all fell as much as 5%.
The market will closely track automobile wholesale sales data for April, due to be released starting Friday. Analysts expect two-wheeler wholesale sales to grow by around 25% year-on-year while passenger vehicle despatches may grow by around 12% in April.
"Consumer sentiment and retail momentum remain stable, supported by healthy rural cash flows and improved financing availability, while inventory levels continue to reflect better wholesale-retail alignment," Nirmal Bang Institutional Equities said in a report. "Near-term wholesale growth, however, is expected to be influenced by supply-side constraints, inventory recalibration, and evolving macro uncertainties," it said.
Automobile and component firms continue to flag the rising risks from increasing prices of commodities. The management of tyre maker CEAT this week said it expects the cost of its raw materials basket to grow 15-20% on quarter for the June quarter. The company has raised prices by around 5% in the aftermarket already and intends to do the same again in the current quarter. CEAT expects volume growth to remain healthy, but expects to see some moderation because of the price hikes.
Maruti Suzuki India too disclosed its financials for the March quarter this week. "Geopolitical risks and higher raw material prices are expected to keep near-term margins under pressure, further aggravated by EV (electric vehicle) rampup, partially offset by better mix, price increases, and operating leverage," Prabhudas Lilladher said of the Swift maker.
The following automobile and ancillary firms will disclose their March quarter results next week: Exide Industries, Mahindra & Mahindra, Hero MotoCorp, and Bajaj Auto.
TOP HEADLINES
* Earnings Outlook: Bajaj Auto Q4 revenue growth seen hitting 9-quarter high
* Force Motors Jan-Mar net profit falls 36% on year to INR 2.74 bln
* Govt adds higher ethanol blends, biodiesel in draft motor vehicle rules
* Analyst Concall: Maruti Suzuki expects its India PV sales to rise 10% FY27
* Maruti Suzuki unfazed by mkt shr fall, maxing out output capacity - Chairman
* Motherson Sumi Wiring India Jan-Mar PAT rises 1.4% YoY to INR 1.67 billion
* Earnings Review: Maruti Suzuki Q4 PAT dn for first time in FY26, misses view
* Ola Electric arm to invest INR 1.28 bln in Ola Cell Technologies
* Escorts Kubota launches 3 tractor models in agri-machinery segment
* Escorts Kubota to mull final dividend for FY26 on May 7
* SC suggests mediation in Sona BLW promoter family dispute
* Bharat Forge launches advanced armoured platform Vikram VT 21
* Crisil ups Minda Corp, arm's long-term bank facility rtg to 'AA' from 'AA-'
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:
| Company | Price | Week-on-week change in % | Resistance | Support |
| Apollo Tyres | 408.40 | (-)3.70 | 425.90 | 398.20 |
| Ashok Leyland | 162.09 | (-)4.60 | 166.80 | 157.90 |
| Bajaj Auto | 9,994.00 | 4.40 | 10,488.00 | 9,108.00 |
| Balkrishna Industries | 2,160.80 | (-)2.90 | 2,229.30 | 2,102.10 |
| Bharat Forge | 1,881.60 | 1.40 | 1,938.10 | 1,818.50 |
| Bosch | 35,995.00 | (-)1.90 | 36,881.70 | 35,231.70 |
| Eicher Motors | 7,109.00 | (-)0.00 | 7,245.70 | 6,909.70 |
| Exide Industries | 360.55 | 5.20 | 367.10 | 352.70 |
| Hero MotoCorp | 5,099.00 | 2.80 | 5,172.30 | 4,983.30 |
| Mahindra & Mahindra | 3,097.50 | 2.00 | 3,157.60 | 3,017.00 |
| Maruti Suzuki India | 13,314.00 | 2.00 | 13,604.70 | 12,824.70 |
| MRF | 129,710.00 | (-)1.80 | 132,203.30 | 127,503.30 |
| Samvardhana Motherson International | 121.21 | (-)3.60 | 125.30 | 117.10 |
| Tata Motors | 409.90 | (-)3.50 | 423.00 | 397.40 |
| Tata Motors Passenger Vehicles | 341.55 | (-)2.60 | 358.20 | 329.20 |
| Tvs Motor Co. | 3,492.90 | 0.10 | 3,579.60 | 3,371.80 |
| Index | Level | |||
| Nifty Auto | 25917.60 | 1.00 | 26390.20 | 25205.30 |
| Nifty 50 | 23997.55 | 0.40 | 24251.20 | 23670.00 |
| BSE Sensex | 76913.50 | 0.30 | 77804.40 | 75813.40 |
End
Reported by Anand JC
Edited by Rajeev Pai
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