Wheels India surges 13% in weak market; what's driving auto parts stock?

On Tuesday, September 23, 2025, HDFC Mutual Fund bought 127,940 equity shares of Wheels India at a price of ₹809 per share through bulk deal.

Wheels India share price today

 

Shares of Wheels India hit a 52-week high of ₹911.95, as they surged 13 per cent on the National Stock Exchange (NSE) in Wednesday’s intra-day trade in an otherwise weak market. 

 

The stock price of the auto parts & equipment company was quoting at its highest level since July 2024. It had hit a record high of ₹1,345 on June 20, 2018.

 

At 09:34 AM; Wheels India stock traded 9 per cent higher at ₹880 on the NSE. In comparison, the Nifty 50 was down 0.37 per cent at 25,077. A combined nearly 600,000 equity shares changed hands on the NSE and BSE.  CATCH STOCK MARKET LIVE UPDATES TODAY

 

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What's driving this auto ancillary stock Wheels India today?

 

On Tuesday, September 23, 2025, HDFC Mutual Fund bought 127,940 equity shares of Wheels India through a bulk deal. The HDFC MF purchased shares at a price of ₹809 per share. The name of the seller was not ascertained immediately.

 

Wheels India overview, outlook

 

Wheels India is a leading manufacturer of wheels for trucks, agricultural tractors, passenger vehicles and construction equipment; air suspension systems for trucks and buses, and industrial components for the construction and windmill industry with manufacturing plants in Tamil Nadu, Maharashtra, Uttar Pradesh and Uttarakhand.

 

In the domestic market, Wheels India expects a strong tractor demand given the good monsoons this year. The management said, on the export market, given the headwinds related to the US tariffs, the company has to wait and watch as to how these unfold and play out for the company to see what kind of an impact it will have in the short-term. But the management is positive on the export growth prospects over the long term.

 

In the June 2025 quarter, Wheels India revenue growth was driven by demand from export customers. In the domestic market, there was strong demand for the company’s air suspension systems from bus customers.

 

Over five decades of presence in the steel wheel rim industry, Wheels India is amongst the largest manufacturers of automotive steel wheel rims in India and earthmover steel wheel rims globally. It has established relationships with automotive and construction equipment original equipment manufacturers (OEMs) in India and globally.    

Further, the company is among the larger manufacturers of air suspension products used in both buses and trucks and has healthy market share with domestic OEMs in the business.

 

Segment-wise, the company is fairly diversified across tractors, passenger vehicles, earthmover wheels, commercial vehicles and air suspension. Within domestic wheel rims, the company has a diversified customer base spread across 30 OEMs. 

 

Caterpillar India Private Limited, Tata Motors Limited (TML), Ashok Leyland Limited (ALL), Mahindra and Mahindra Limited (M&M), and Maruti Suzuki India Limited (MSIL) were the top five customers in India, while Vestas Wind Systems A/S, Caterpillar Inc., John Deere were the top customers in the export segment. The diversification mitigates risks arising from revenue decline from any single customer/segment to an extent, the rating agency ICRA said in its rationale.