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IDBI Capital Report
In May 2022, overall Indian auto industry witnessed partial recovery. The passenger vehicle segment reported volume recovery despite semiconductor shortages while the demand remains robust.
The domestic two-wheeler market continues to struggle with gradual recovery expected going ahead. The commercial vehicle segment reported growth primarily due to lower base, higher Infra spending and increased freight movement across India while the tractor segment performance was better prior to earlier months.
Maruti Suzuki India Ltd. is well positioned to address turnaround in Indian passenger vehicle market. Sona BLW Precision Forgings Ltd. is likely to be the fastest growing India based auto ancillary due to its presence in electric vehicle segment. SJS Enterprises Ltd. to be beneficiary of growth momentum in two-wheeler industry.
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