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Nomura Expects Ather, TVS and Eicher Motors to Beat 2Q Estimates
M
Moneycontrol•08-10-2026, 15:47
Nomura Expects Ather, TVS and Eicher Motors to Beat 2Q Estimates
- •Nomura highlights Mahindra and Mahindra and Ather as its top picks in passenger vehicles and two-wheelers respectively for the upcoming quarter.
- •Domestic volume growth was robust in 2QFY27 with MHCVs growing 34 percent year-on-year and passenger vehicles rising 30 percent.
- •EV adoption is accelerating with penetration crossing 7 percent for passenger vehicles and 11 percent for two-wheelers.
- •Elevated commodity costs remain a key headwind keeping margins under pressure across various automotive segments.
- •Nomura expects Sona Comstar Bharat Forge Motherson and Motherson Sumi Wiring India to surprise positively among auto ancillaries.
Key Questions Answered
Nomura expects Ather, TVS Motor, and Eicher Motors to beat 2QFY27 estimates. Meanwhile, TMPV and Ashok Leyland could miss expectations.
Nomura maintains Mahindra & Mahindra (M&M) and Ather as its top preferred picks in passenger vehicles and two-wheelers, respectively.
Domestic volume growth in 2QFY27 was robust, with MHCVs growing 34% year-on-year, passenger vehicles up 30%, LCVs at 23%, and two-wheelers at 14%, while tractor volumes declined by 5%.
