Nomura names M&M, Hyundai, Ather Energy as top picks after June auto sales; says EV penetration at inflection point

Nomura remains positive on India's auto sector after strong June sales, noting that EV adoption has reached an inflection point. The brokerage expects continued momentum driven by new launches and improving charging infrastructure. It has named Mahindra and Mahindra, Hyundai Motor India, Ather Energy and Sona BLW Precision among its top picks.