Indian auto stocks to get boost from likely govt wage hikes, Goldman Sachs says
ReutersMar 25, 2025 7:41 AM
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
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