Auto Stocks Outlook
Auto shares likely to maintain bullish momentum next week
This story was originally published at 20:55 IST on 8 May 2026
Register to read our real-time news.Informist, Friday, May. 8, 2026
MUMBAI – The Nifty Auto is expected to maintain the bullish momentum seen in recent weeks and trade higher in the coming week, technical analysts said. The sectoral index has managed to close in the green for the past two weeks, in line with the broader market.
Friday, Nifty Auto closed 0.3% lower at 27259.85 points. However, for the week, it closed a touch over 5% higher. This week, the sectoral index performed much better than the benchmark Nifty 50 index, which barely gained a percent, and the Nifty 200, which closed 1.6% higher. "Investor confidence was further supported by favourable state election outcomes and Q4 earnings that came in better than cautious expectations. Midcap and smallcap indices outperformed, while sectors such as autos, defence, realty, and pharma witnessed strong buying interest," Vinod Nair, the head of research at Geojit Investments, said in a note.
The index is expected to see support around 26788-26160 levels and may face resistance around 27580-27850 levels, Ashish Sherigar, technical and derivatives analyst, NVS Brokerage, said.
Shares of only one company, Sona BLW Precision Forgings, which is part of the 15-stock index, closed in the red this week, down almost 5%. Samvardhana Motherson International was the top-performing company, up almost 9%.
Earlier this week, Bajaj Auto reported its March quarter earnings. Its revenue grew 32% on year on the back of a 24% growth in volumes and 6% growth in average realisation per vehicle. The company called out the 'almost hyper' nature of commodity costs currently, which may prompt the company to take further price hikes. Bajaj Auto expects the volume growth of motorcycle industry to taper to 7-9% in financial year 2026-27 (Apr-Mar), down from 20% in the March quarter, due to weak customer sentiment and a high base.
The following automobile companies will disclose their March quarter results next week: Tube Investments of India, TVS Motor Co., Tata Motors Passenger Vehicles, Tata Motors, and Apollo Tyres.
TOP HEADLINES
* Ola Electric gets govt certification for Bharat Cell-powered S1 X+ scooter
* NCLT approves IAC International Automotive's merger with Lumax Auto Tech
* Earnings Review: Escorts Kubota Q4 PAT disappoints, sales in line with view
* Analyst Concall: Bharat Forge banks on aerospace, defence ops for growth
* Earnings Review: One-time cost drags Bharat Forge into the red in Q4
* SC names former CJI Chandrachud as Sunjay Kapur family dispute mediator
* Craftsman Automation Jan-Mar consol PAT rises 74.4% YoY to INR 1.16 billion
* Analyst Concall: Bajaj Auto flags 'almost hyper' cost inflation in Q4
* Bajaj Auto ED Rakesh Sharma to be joint managing director from Jun 1
* Dealing with inflation, shipping disruption amid W Asia war, says Bajaj Auto
* Bajaj Auto to spend INR 56.33 bln on share buyback at INR 12,000 per share
* Earnings Review: Bajaj Auto Jan-Mar PAT, sales growth at multi-qtr highs
* TVS Motor launches iQube S 4.7-kWh variant at INR 137,142 ex-showroom Delhi
* Analyst Call: Hero MotoCorp to invest INR 15 bln to add 2-wheeler capacity
* Earnings Review: Hero MotoCorp PAT, sales growth at multi-qtr highs
* Analyst Concall: M&M sees AI-led gains, flags EV boost from fuel price rise
* M&M says may look at raising prices again if there are structural issues
* Force Motors launches 'Traveller N Range' in India, global markets
* Force Motors Apr sales fall 4% YoY to 3,113 units on supply, labour woes
* Earnings Review: Strong sales lift M&M's Jan-Mar PAT growth to 9-qtr high
* JLR India cuts some Range Rover SV prices before India-UK FTA kicks in
* HC notice to Bajaj Auto on Transworld Ent plea against use of GoGo in EVs
* Hero MotoCorp appoints Sachin Agrawal as CTO with effect from May 21
* Ather Energy's Jan-Mar net loss narrows to INR 1 bln vs INR 2.34 bln yr ago
* Ashok Leyland April sales rise 9% YoY to 14,646 units but fall 42% from Mar
* Bajaj Auto April despatches highest in six mos at 513,792 units; up 40% YoY
* TVS Motor Apr sales up 7% on year at 473,970 units; EV sales up 36% on year
* M&M arm allots 352 million shares to 3 cos on conversion of pref shrs
* Hero MotoCorp two-wheeler despatches bounce 85% YoY on low base in April
* Partly unlocked output capacity of small cars in Apr, says Maruti Suzuki
* Maruti Suzuki April despatches rise to record 239,646 units, up 33% YoY
* Ola Electric registration grows 20% on month in April
* Tube Invest board to approve long-term borrowings via NCDs on May 13
* Royal Enfield despatches in Apr jump 31% YoY, exports down for third month
* Domestic sales push Eicher Motors April volume up 7% on year to 7,318 units
* Tata Motors PV despatches rise 31% to 59,701 units in April
* Tata Motors' CV despatches rise 28% on growth in small cargo, pickup units
* M&M Apr SUV sales growth down at 8-mo low of 8% YoY; total auto sales up 14%
* Hyundai Motor Apr auto despatches up 8%, India sales offset 16% export fall
* Escorts Kubota tractor sales up 24% YoY in April at 10,857 units
* Analyst Concall: Sona BLW flags commodity inflation, wage hike as headwinds
* Bharat Forge to buy 30% stake in Fortuna Engg for INR 1.30 bln
* Earnings Review: Sona BLW Jan-Mar revenue up 47% on year, net profit up 17%
* HC bars Priya Kapur from alienating husband's assets on challenge to will
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 LTD | 409.25 | 0.20 | 415.70 | 404.30 |
| ASHOK LEYLAND LTD | 168.57 | 4.00 | 171.30 | 165.90 |
| BAJAJ AUTO LTD | 10,711.50 | 7.20 | 10,923.80 | 10,433.80 |
| BALKRISHNA INDUSTRIES LTD | 2,262.50 | 4.70 | 2,329.30 | 2,203.90 |
| BHARAT FORGE LTD | 1,989.70 | 5.80 | 2,071.80 | 1,934.00 |
| BOSCH LTD | 38,145.00 | 6.00 | 39,421.70 | 37,011.70 |
| EICHER MOTORS LTD | 7,302.50 | 2.70 | 7,442.20 | 7,158.20 |
| EXIDE INDUSTRIES LTD | 362.25 | 0.50 | 369.60 | 356.70 |
| HERO MOTOCORP LTD | 5,322.00 | 4.40 | 5,462.00 | 5,195.00 |
| MAHINDRA & MAHINDRA LTD | 3,330.40 | 7.50 | 3,382.40 | 3,291.60 |
| MARUTI SUZUKI INDIA LTD | 13,726.00 | 3.10 | 13,876.70 | 13,550.70 |
| MRF LTD | 1,30,425.00 | 0.60 | 1,32,718.30 | 1,28,988.30 |
| SAMVARDHANA MOTHERSON INTERNATIONAL LTD | 132.03 | 8.90 | 134.00 | 129.50 |
| TATA MOTORS LTD | 431.00 | 5.20 | 443.00 | 420.00 |
| TATA MOTORS PASSENGER VEHICLES LTD | 355.45 | 4.10 | 359.30 | 351.80 |
| TVS MOTOR COMPANY LTD | 3,695.20 | 5.80 | 3,767.90 | 3,596.70 |
| Index | Levels | |||
| NIFTY AUTO | 27259.85 | 5.20 | 27554.40 | 26935.30 |
| NIFTY 50 | 24176.15 | 0.70 | 24312.70 | 24058.40 |
| BSE SENSEX | 77328.19 | 0.50 | 77875.00 | 76873.00 |
End
Reported by Anand JC
Edited by Deepshikha Bhardwaj
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