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List of Truck Stocks in India (2025)

Truck stocks belong to commercial vehicle manufacturers. They are sensitive to economic growth, logistics demand, infrastructure expansion, and rural consumption. Performance often reflects the broader health of transportation and industrial activity in the economy.

Top Truck Stocks in 2025

Truck Stock Screener

Truck Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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NameStocks (5)↓↓Sub-SectorSub-Sector↓↓Market CapMarket Cap↓↓Close PriceClose Price↓↓PE RatioPE Ratio↓↓1D Return1D Return↓↓1M Return1M Return↓↓6M Return6M Return↓↓1Y Return1Y Return↓↓PB RatioPB Ratio↓↓Return on EquityReturn on Equity↓↓ROCEROCE↓↓Dividend YieldDiv Yield↓↓Debt to EquityDebt to Equity↓↓Volatility vs NiftyVolatility vs Nifty↓
1.Tata Motors Passenger Vehicles LtdTMPVFour WheelersFour Wheelers1,31,256.701,31,256.70356.45356.454.724.72-0.11-0.11-14.30-14.30-16.97-16.97-25.29-25.291.071.0725.7925.7920.8020.801.681.680.580.582.402.40
2.Ashok Leyland LtdASHOKLEYTrucks & BusesTrucks & Buses94,105.0294,105.02160.21160.2130.2930.29-1.54-1.5417.0617.0635.9935.9936.9436.945.945.9422.4622.4615.5015.501.951.953.153.152.452.45
3.Force Motors LtdFORCEMOTFour WheelersFour Wheelers23,477.4623,477.4617,568.0017,568.0029.3229.32-0.09-0.09-5.64-5.6442.4542.45151.24151.247.737.7330.2630.2637.0837.080.220.220.010.014.104.10
4.Olectra Greentech LtdOLECTRAElectrical Components & EquipmentsElectrical Components & Equipments10,173.0910,173.091,239.401,239.4073.2473.242.532.53-20.65-20.650.880.88-21.50-21.509.669.6614.1114.1119.1619.160.030.030.240.243.533.53
5.SML Mahindra LimitedSMLMAHTrucks & BusesTrucks & Buses5,094.025,094.023,520.003,520.0041.8741.87-0.35-0.357.737.7386.5586.55116.86116.8613.3113.3136.4136.4136.4336.430.510.510.850.854.534.53
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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: Truck Stocks, based on publicly available information and is sorted by market cap.

What Are Truck Stocks?

Truck stocks represent publicly listed companies that manufacture and sell commercial vehicles such as heavy-duty trucks, light commercial vehicles (LCVs), and related components. These companies serve industries like logistics, defense, rural transport, and infrastructure. Their performance closely mirrors economic cycles, infrastructure activity, and freight movements.

GST 2.0 Impact on Trucking Sector

Reduced Tax for Trucks: Trucks that were taxed at 28 % are now under the 18 % slab. This lowers commercial fleet costs and helps expand logistics networks.
Industry Benefits: Cheaper fleet operations can reduce transportation costs for multiple industries such as FMCG, agriculture, and e-commerce.

Overview of the Top Truck Stocks

Tata Motors Ltd

Tata Motors Ltd, part of the Tata Group, is India’s largest automobile company, producing cars, utility vehicles, trucks, buses, and defense vehicles. With a global presence, including Jaguar Land Rover, it focuses on electric mobility, sustainable technologies, and innovation to serve both passenger and commercial vehicle markets.

Ashok Leyland Ltd

Ashok Leyland Ltd, part of the Hinduja Group, is a leading manufacturer of commercial vehicles, buses, trucks, and defense mobility solutions. Headquartered in Chennai, it has a strong domestic and international presence. The company emphasizes alternative fuel technologies, electric buses, and sustainable transportation for mass and goods mobility.

Force Motors Ltd

Force Motors Ltd is an Indian automotive manufacturer specializing in light commercial vehicles, multi-utility vehicles, and agricultural tractors. Known for brands like Traveller and Trax, it also supplies engines and axles to global OEMs such as Mercedes-Benz and BMW. The company focuses on durable, cost-effective mobility solutions.

Olectra Greentech Ltd

Olectra Greentech Ltd, part of the MEIL Group, is India’s pioneer in electric mobility, manufacturing electric buses and tarmac coaches. It partners with BYD for advanced EV technology and contributes to India’s transition toward clean and sustainable public transport with a focus on innovation and green energy solutions.

SML Isuzu Ltd

SML Isuzu Ltd is a commercial vehicle manufacturer producing trucks, buses, and special application vehicles. Originally a collaboration between Swaraj and Mazda, it now benefits from Isuzu Motors’ expertise. The company emphasises reliability, efficiency, and customized solutions for transportation and logistics in both domestic and export markets.

About the Truck Sector in India

The truck sector in India stands as a vital pillar of the nation’s economy, powering the movement of goods across industries and geographies. Encompassing heavy-duty trucks as well as light commercial vehicles (LCVs), this industry underpins logistics and trade efficiency. Market leaders such as Ashok Leyland dominate the segment, while players like Force Motors, Olectra Greentech, and SML Isuzu strengthen niches in light-duty and electric mobility. Backed by expanding logistics demand, major infrastructure investments, and stricter green mobility mandates, the sector is accelerating towards cleaner and more technology-driven solutions.

How to Invest in Truck Stocks?

Investing in truck stocks using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in truck stocks:

  1. Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
    2. 

  2. Search for Truck Stocks: Go to Tickertape Stock Screener and search for truck stocks.
    3. 

  3. Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or dividend yield. You can create your own custom filter if your preferred parameters are not available. This can help you narrow down the top truck stocks in India.
    4. 

  4. Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in depth.
    5. 

  5. Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
    6. 

  6. Invest Through Your Broker: Once you’ve identified truck stocks that align with your investment thesis, you can place a buy order through your brokerage account linked to Tickertape.
    7. 


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Advantages of Investing in Truck Stocks

Stable Long-Term Demand

The trucking sector is closely linked to the movement of goods. As infrastructure projects and logistics services expand, the need for commercial vehicles naturally grows.

Diversified Portfolios

Many truck manufacturers operate across heavy-duty trucks, buses, and light commercial vehicles, allowing them to serve different customer categories and industries.

Emerging EV Tech

Increased adoption of electric commercial vehicles and alternative-fuel trucks reflecting the industry’s adaptation to regulatory and environmental priorities.

Global Expansion

Mergers, acquisitions, and overseas operations help trucking companies in India access new markets, supply chains, and technologies, which contributes towards this growing sector.

Risks of Investing in Truck Stocks

Cyclicality and Regulatory Changes

Truck demand typically rises during strong economic phases and slows during downturns. Policy shifts, such as tax changes or emission norms have a direct impact on the sales patterns.

Commodity Cost Pressure

Steel, aluminum, and electronic components are key components of truck manufacturing. Any fluctuation in the prices of these commodities impact cost structures across the sector.

High Capital Intensity

Setting up plants, maintaining inventories, and funding R&D requires considerable investment, making the sector resource-heavy.

Integration and Execution Challenges

Cross-border acquisitions or technology partnerships may face hurdles such as cultural differences, cost overruns, or delayed synergies.

EV Transition Uncertainty

Although the sector is aligned with India’s green vision, the pace of adoption of electric trucks depends on infrastructure readiness, and cost competitiveness, which vary across regions.

Factors to Consider Before Investing in Truck Stocks

Business Diversification

Some companies operate in both passenger and commercial segments, while others specialise solely in CVs. This affects how sensitive they are to sector-specific demand changes.

Global Reach and Partnerships

Overseas acquisitions or joint ventures can bring new technology and markets but may also expose firms to international risks.

Financial Structure

Balance sheet strength, working capital cycles, and capital expenditure commitments are important for sustaining large-scale operations.

Technology and EV Readiness

Development of electric or alternate-fuel trucks is emerging as a key differentiator, reflecting long-term industry shifts.

Valuation and Market Positioning

Differences in pricing, product mix, and brand perception shape how each company is positioned in the broader market.

Conclusion

Truck stocks form a crucial pillar of India’s commercial vehicle ecosystem, linking infrastructure, logistics, and rural markets with long-term industrial growth. Companies like Ashok Leyland, and emerging EV-focused players highlight both traditional strength and future potential. While cyclicality, capital intensity, and regulatory risks remain, you can leverage Tickertape Stock Screener with 200+ filters to discover truck stocks that align with your investment thesis.

Frequently Asked Questions on Truck Stocks

  1. What are Truck Stocks?

    Truck stocks represent companies manufacturing commercial trucks and heavy vehicles. These stocks are influenced by industrial activity, logistics demand, and infrastructure growth, offering investors a way to participate in the backbone of freight transportation.

  2. How to invest in Truck Stocks?

    Here’s how you can invest in Truck stocks -
    1. Go to the Tickertape Stock Screener
    2. Select the "Truck" stocks.
    3. From the Truck stocks, analyse and sort the Truck stocks using over 200+ filters - including valuation ratios, financials, technical indicators, and more - based on your investment thesis.
    4. Review the filtered list, and identify stocks that best align with your risk appetite, return expectations, and investment goals.
    5. Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred Truck stocks.

    Disclaimer: Please do your own research or consult your financial advisor before investing.

  3. What is the future projection of Truck Stocks?

    Truck stocks are expected to benefit from a growing market, with India’s truck sector projected to expand at around 7-7.5% CAGR through the late 2020s, supported by increasing freight demand, infrastructure development, and rising replacement needs in ageing fleets. The broader commercial vehicle industry also shows moderate growth, with a 5% CAGR to 2030.

    Disclaimer: This is only for educational purposes as the latest data is derived from major financial research reports.

  4. How to choose Truck Stocks for investing?

    When choosing truck manufacturing stocks, analyze financial statements for sales volumes, export share, and margins. Conduct fundamental analysis of demand cycles, infrastructure growth, and government policies on logistics. Evaluate valuation ratios against automotive peers. Assess product innovation, electric vehicle strategies, and after-sales networks. Monitor interest rate trends, fuel costs, and regulatory shifts on emission norms. With over 200+ filters, you can fundamentally analyse and evaluate the stocks on Tickertape Stock Screener and identify stocks that aligns with your investment thesis.

    Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.

  5. Do Truck Stocks offer regular dividends?

    Dividend policies vary. Tata Motors has had irregular dividends due to debt and global subsidiaries, while Ashok Leyland has been more consistent in rewarding shareholders. However, you can use Tickertape Stock Screener to filter Truck Stocksby dividend yield, dividend history, and payout ratios to identify consistent payers. Disclaimer: This is only for educational purposes as the latest data is derived from Tickertape Stock Screener.

  6. What are the factors affecting Truck Stocks prices?

    Truck stocks reflect trends in freight demand, infrastructure spending, and industrial growth. Regulatory changes such as axle-load norms or scrappage policies often cause demand cycles. Rising fuel costs, fleet profitability, and financing availability influence buyer sentiment, while export orders provide an additional boost.

    Disclaimer: Please note that the above information is for educational purposes only.

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Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment advice, recommendation, offer, solicitation to buy/hold/sell any securities/investment products. The securities quoted if any, are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.