Maruti, Hyundai shares emerge as top auto picks as four-wheelers eye catch-up rally
With two-wheeler valuations and momentum already stretched in the near term, Agarwal sees room for a rotation into passenger vehicle names. “From here, I think four-wheelers can catch up,” he said, signaling a tactical shift within the broader auto pack.
- Aug 18, 2026,
- Updated Aug 18, 2026 4:53 PM IST
After a strong run in two-wheeler stocks, market attention may now be shifting to passenger vehicle makers. Aditya Agarwal, Head of Investment at Coherent Wealth, believes the easy money in names such as Bajaj Auto, TVS Motor and Hero MotoCorp has largely been made, and that four-wheeler stocks are now better placed to catch up.
His top calls in the space are Hyundai and Maruti Suzuki, with the latter seen as a stock that could be on the verge of a sharper breakout after a period of underperformance.
Two-wheelers still lead, but momentum may cool
Agarwal was clear that two-wheelers have been the standout winners in the recent auto rally. He noted that Bajaj Auto, TVS and Hero have already delivered gains of roughly 15-20% over the past 15-20 days, underscoring the strength of the segment.
But that very outperformance is also the reason for caution. “Two-wheelers are clearly a winner in this race,” he said, before adding that “the rally is already played out in most of the two-wheeler counters.” For investors chasing fresh upside, that changes the risk-reward equation.
Why four-wheelers could be next
With two-wheeler valuations and momentum already stretched in the near term, Agarwal sees room for a rotation into passenger vehicle names. “From here, I think four-wheelers can catch up,” he said, signaling a tactical shift within the broader auto pack.
That view fits into a wider market setup where investors are becoming more selective after recent profit-booking in several sectors. In such an environment, auto stocks that have consolidated rather than surged often attract fresh interest, especially when sectoral sentiment remains constructive.
Maruti in focus after consolidation
Among four-wheelers, Maruti stands out in Agarwal’s strategy. He said the stock “has not performed in the last couple of weeks” and is “consolidating in a narrow range,” even as early signs of an uptick are beginning to emerge.
That consolidation, in his view, could set up a stronger move. Agarwal expects Maruti to head toward Rs 14,800-Rs 15,200 on a positional basis. He said dips toward Rs 13,800-Rs 13,750 could be used to initiate long positions, while investors entering at current levels should keep a stop loss at Rs 13,600.
Hyundai joins the preferred list
Hyundai, which had already figured in his earlier recommendations, remains the other preferred name in the segment. Together, Hyundai and Maruti represent what Agarwal sees as the most attractive way to play the next phase of the auto trade.
For the market, the message is straightforward: leadership in autos may not be fading, but it could be changing lanes. If two-wheelers drove the first leg of the rally, four-wheelers may now be preparing to take the wheel.
After a strong run in two-wheeler stocks, market attention may now be shifting to passenger vehicle makers. Aditya Agarwal, Head of Investment at Coherent Wealth, believes the easy money in names such as Bajaj Auto, TVS Motor and Hero MotoCorp has largely been made, and that four-wheeler stocks are now better placed to catch up.
His top calls in the space are Hyundai and Maruti Suzuki, with the latter seen as a stock that could be on the verge of a sharper breakout after a period of underperformance.
Two-wheelers still lead, but momentum may cool
Agarwal was clear that two-wheelers have been the standout winners in the recent auto rally. He noted that Bajaj Auto, TVS and Hero have already delivered gains of roughly 15-20% over the past 15-20 days, underscoring the strength of the segment.
But that very outperformance is also the reason for caution. “Two-wheelers are clearly a winner in this race,” he said, before adding that “the rally is already played out in most of the two-wheeler counters.” For investors chasing fresh upside, that changes the risk-reward equation.
Why four-wheelers could be next
With two-wheeler valuations and momentum already stretched in the near term, Agarwal sees room for a rotation into passenger vehicle names. “From here, I think four-wheelers can catch up,” he said, signaling a tactical shift within the broader auto pack.
That view fits into a wider market setup where investors are becoming more selective after recent profit-booking in several sectors. In such an environment, auto stocks that have consolidated rather than surged often attract fresh interest, especially when sectoral sentiment remains constructive.
Maruti in focus after consolidation
Among four-wheelers, Maruti stands out in Agarwal’s strategy. He said the stock “has not performed in the last couple of weeks” and is “consolidating in a narrow range,” even as early signs of an uptick are beginning to emerge.
That consolidation, in his view, could set up a stronger move. Agarwal expects Maruti to head toward Rs 14,800-Rs 15,200 on a positional basis. He said dips toward Rs 13,800-Rs 13,750 could be used to initiate long positions, while investors entering at current levels should keep a stop loss at Rs 13,600.
Hyundai joins the preferred list
Hyundai, which had already figured in his earlier recommendations, remains the other preferred name in the segment. Together, Hyundai and Maruti represent what Agarwal sees as the most attractive way to play the next phase of the auto trade.
For the market, the message is straightforward: leadership in autos may not be fading, but it could be changing lanes. If two-wheelers drove the first leg of the rally, four-wheelers may now be preparing to take the wheel.