India–US trade deal: Auto stocks gain up to 20% led by Balkrishna Industries

About this update from Balkrishna Industries Limited

The India–US trade deal announced late on Monday, February 2, is set to shape stock-specific outcomes in the auto and auto ancillary space. However, clarity is still awaited on what happens to segments that are currently placed under Section 232 of the US tariffs, which includes Automobiles. Data shows that Automobile exports to the US touched nearly $4 billion. Here are the stocks having exposure to the US market. Tata Motors PV | Jaguar Land Rover (JLR), a key subsidiary of Tata Motors, has significant exposure to the US market. Around 33% of JLR’s volumes come from the US, and JLR accounted for 86% of Tata Motors’ passenger vehicle consolidated revenue in FY25. As of 9.21 am, the stock was up 3.57% at ₹375.85 in early trading. Samvardhana Motherson | The company derives about 18–20% of its revenue from North America, including the US. While the region is important, the company’s revenue base remains diversified across Europe and other global markets. As of 9.21 am, the stock was up 6.71% at ₹121.74 in early trading. Sona BLW Precision Forgings | The US accounts for over 40% of Sona BLW’s total revenue, making it one of the most exposed Indian auto ancillaries to the American market. As of 9.23 am, the stock was up 7.86% at ₹538.75 in early trading. Bharat Forge | The company has around 38% revenue exposure to North American markets, supplying forgings and components to global OEMs. Lower tariffs reduce export cost burdens and improve the viability of shipments to the US, supporting order inflows over time. As of 9.24 am, the stock was up 10% at ₹1,588 in early trading. Balkrishna Industries | Around 17% of Balkrishna Industries’ revenue comes from the US, primarily through its off-highway tyre exports. Therefore, the company stands to benefit from smoother trade flows. As of 9.24 am, the stock was up 12.73% at ₹2,585.70 in early trading. Eicher Motors: The US contributes only about 2% of Royal Enfield’s volumes, limiting Eicher Motors’ direct exposure to tariff changes. As of 9.25 am, the stock was up 2.93% at ₹7,190 in early trading.

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