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Nomura Flags Mahindra, TVS, Ashok Leyland as GST 2.0 Winners
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Nomura identifies leading auto firms as key GST 2.
Nomura has highlighted Mahindra & Mahindra, TVS Motor, Hyundai Motor India, and Ashok Leyland as top beneficiaries of GST 2.0. Lower levies on passenger vehicles and two-wheelers are set to improve affordability, driving festive season demand. Suppliers like Motherson Sumi and CEAT also stand to gain as volumes pick up. The brokerage noted that with demand recovery, market leaders in SUVs, tractors, and two-wheelers could deliver earnings surprises in Q3. Analysts recommend tracking order books and margin improvements closely.