Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Designs, builds and sells cars, SUVs, tractors and two-wheelers to Indian households and export markets. The group is a mid-sized block of the index, a little smaller than IT.
Why it matters
Vehicle sales are a fast read on household confidence, rural incomes and credit availability. The Sep 2025 GST cut on small cars and two-wheelers reset prices and demand.
Where the value pool sits
SUVs and premium motorcycles carry the best margins; entry cars and scooters are price-sensitive. Exports (Bajaj, Maruti) and JLR (Tata Motors PV) add overseas exposure.
Key drivers
GST rate cuts and income-tax relief lifting affordability
Rural incomes and the monsoon (tractors, two-wheelers)
New SUV and EV launches
Potential bottlenecks
Rare-earth magnets and chips sourced largely from China