Bulls fancied these 5 auto ancillaries in 2022; charts hint 25% rally ahead

Since July, most of the auto ancillary stocks have geared up with a resolute strength and continue to rally smartly seeking higher ground.

Shares of auto ancillary companies have performed well so far in 2022, with select ones on the track to deliver high double-digit returns. Among top performers, Pricol and JTEKT India have surged 80 per cent each, while Lumax Auto Technologies gained 70 per cent.
 

Among others, stocks such as Automotive Axles and Talbros Automotive Components have risen 40 per cent and 35 per cent, respectively. Meanwhile, the Nifty Auto index has hit a new historic peak so far in 2022, up 18 per cent from last year and continues to remain bullish.
 

Since July 2022, most of the auto ancillary