Indian Automobiles Low Leverage High Rewards

Munjal Showa

Market Cap: ₹4.6b

Manufactures and sells auto components for the two-wheeler and four-wheeler industry primarily in India and internationally.

Hero MotoCorp

Market Cap: ₹766.2b

Primarily engages in the manufacture and sale of motorized two wheelers in India, Asia, Central and Latin America, Africa, and the Middle East.

India Nippon Electricals

Market Cap: ₹13.5b

Provides electronic ignition systems for automotive industry in India and internationally.

Banco Products (India)

Market Cap: ₹52.5b

Engages in the manufacture and sale of heat exchangers/cooling systems in India and internationally.

Rane Brake Lining

Market Cap: ₹5.8b

Manufactures and markets auto components to original equipment manufacturers and aftermarket customers in India and internationally.