Auto Demand Upcycle to Sustain Until FY27; M&M, Maruti, TVS, Tata Motors Top Picks: Kotak

• India's auto sector is in a broad-based demand upcycle expected to continue until FY27, according to Kotak Institutional Equities.
• Strong demand trends are visible across all segments, including passenger vehicles, two-wheelers, commercial vehicles, and tractors.
• Double-digit growth is projected for passenger vehicles and two-wheelers, with commercial vehicles and tractors potentially seeing 20-50% growth.
• TVS Motors is expected to lead in the EV two-wheeler segment, outpacing industry growth.
• Kotak's top stock picks include Mahindra & Mahindra, Maruti Suzuki, TVS Motors, and Tata Motors, citing strong demand and upcoming capacity additions.