Stocks to buy: Minda Corporation, RK Forgings, ASK Automotive - MNCL picks 8 auto ancillary stocks with up to 63% upside

Detailed summary

Monarch Networth Capital has issued Buy ratings on eight auto ancillary stocks, citing strong October vehicle sales and improving affordability. It sees upside of 8% to 63%, with Minda Corporation, RK Forgings and Sundram Fasteners its top picks.

Auto stocks to buy: Strong festive demand and improved vehicle affordability drove healthy automobile sales across segments in October 2026, prompting Monarch Networth Capital (MNCL) to remain positive on select auto ancillary stocks.

The brokerage has identified eight stocks from its coverage universe with Buy ratings, including Minda Corporation, RK Forgings, Sundram Fasteners, ASK Automotive, Pricol and others.

Among these stocks, MNCL identified Minda Corporation, RK Forgings and Sundram Fasteners as its top picks. The brokerage also noted that valuations for all three appeared attractive at current market prices.

MNCL has assigned Buy ratings to eight stocks, with target prices indicating potential upside ranging from 8% to 63% from their respective current market prices.

The brokerage has a target price of ₹745 against a current market price of ₹593, indicating a potential upside of 63%.

Fiem Industries has a target price of ₹2,805 compared with its current market price of ₹1,802, implying an upside of 36%.

MNCL has set a target price of ₹867 against a CMP of ₹655, indicating a potential upside of 32%. The brokerage expects the company to deliver strong growth through increasing content per vehicle.

Pricol has a target price of ₹810 compared with its current market price of ₹658, implying an upside of 23%.

The brokerage has assigned a target price of ₹1,315 against a CMP of ₹1,077, indicating an upside of 23%. It expects the company to benefit from export orders and diversification into non-automotive businesses.

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