BUZZ-Indian auto stocks to get boost from likely govt wage hikes, Goldman Sachs says

Reuters03-25 07:41

** Indian automakers and related stocks poised to gain from India's potential pay hikes, says Goldman Sachs

** GS expects 5 mln govt employees to get 14%-19% more per month after 8th Pay Commission hike, which, along with monthly tax savings post FY26 budget, will fuel demand in auto sector

** Notes 7th Pay Commission (2016-2018) drove strong autos growth

** Sees Eicher Motors EICH.NS, TVS Motor TVSM.NS, Maruti Suzuki MRTI.NS and Uno Minda UNOI.NS as likely beneficiaries

** EICH, TVSM and MRTI shares are up 13.3%, 3% and 9.7%, respectively in 2025 so far, UNOI is down 10.2%

** Nifty auto index .NIFTYAUTO down 4.5% in 2025

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment