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HDFC Securities Institutional Equities
The auto sector has outperformed the Nifty Index in Q2, largely led by a sharp rally in some two-wheelers and passenger vehicle stocks. We continue to like Maruti Suzuki and Mahindra and Mahindra Ltd. as we expect both to continue to outperform the utility vehicle segment, which would in turn help improve their performance.
Within two-wheelers, we continue to like TVS Motors. We have rolled over the valuation to the year-ended Sept-26.
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