September’s auto sales slump, driven by a high‑base effect and the shift in the festive calendar, is expected to reverse in October, says Sunny Agrawal of SBI Securities.
Agrawal highlighted TVS Motor’s strong positioning, citing its focus on electric two‑wheelers and a resilient dealer network as key drivers for the forecasted 18‑19% sales uptick.
Bajaj Auto, while facing a dip in domestic sales, is buoyed by robust export volumes, keeping the company on Agrawal’s radar as a constructive play.
The PM DHARA scheme, aimed at upgrading renewable power transmission infrastructure, is expected to lift demand for cables and transformers, with Polycab emerging as Agrawal’s preferred pick amid intensified competition from UltraTech.
Looking ahead, Agrawal remains selective on recent IPOs and tech listings, favoring a buy‑on‑dip strategy, and signals that once festive demand materializes, auto stocks could see a notable rally.