Indian auto parts exporters to gain US market share after trade deal, Nomura says

U.S. trade deal and depreciating rupee to help Indian auto parts exporters gain U.S. market share, Nomura says

Levy on auto parts under U.S. trade framework significantly lower than earlier 25%, albeit with a quota

In 2023, before U.S. tariffs on Indian goods, India accounted for 2% of U.S. auto parts imports, less than Mexico, Canada, China, Japan, Germany share- Nomura

Bharat Forge BFRG.NS, Sona BLW SONB.NS, Balkrishna Industries BLKI.NS and Sansera Engineering SASE.NS to benefit most, brokerage says

Adds, improved trade would support local demand for commercial vehicles, benefitting Ashok Leyland ASOK.NS and Tata Motors TATM.NS

Since Feb 2, when deal was announced, Auto stocks .NIFTYAUTO up about 5%, Nifty 50 .NSEI rose 3.4%