Nomura identifies Mahindra & Mahindra, Hyundai Motor India, and TVS Motor among top picks poised to benefit from India's GST rate cuts on automobiles. Automakers swiftly passed on the reductions, spurring consumer interest and bookings, with Maruti Suzuki reporting a significant surge. The brokerage anticipates volume growth during the festive season, particularly for commercial vehicles and sub-Rs 10 lakh SUVs.
