<ul><li>Auto companies could face business headwinds for a longer period on higher US tariffs and complex global supply chains.</li><li>Domestic companies could remain under pressure if India were to give favorable trade terms for import of cars, especially EVs.</li><li>HDFC Securities continues to maintain its top picks in domestic facing stocks like Maruti Suzuki and Ashok Leyland.</li><li>Operating leverage and softer raw material are expected to aid margins in the Q4 results of automobile companies.</li></ul>

Automobiles Q4 Results Preview: Operating Leverage, Softer Raw Material To Aid Margins, Says HDFC Securities

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