Sectoral spotlight: Auto stocks step on gas pedal; M&M, Maruti, Tata Motors top buys

The Indian automobile sector witnessed a broad-based rally in the past week with the 15-stock Nifty Auto index outperforming the broader Nifty50, and has given over 28% returns in the 12-month period. Aamar Deo Singh, Head Advisory at Angel One recommended investors book part profits and trail the balance as short-term indicators in Nifty50 are displaying fatigue at higher levels, and profit-booking is possible. Top brokerages, including BNP Paribas, JM Financials and LKP Securities, advise a stock-picking strategy to investors. The firms remain positive on the sector, with LKP, recommending Maruti Suzuki, M&M, Ashok Leyland, TVS Motor and Bajaj Auto stocks as their preferred picks.

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