Shares of Indian two-wheeler makers fall as Nomura predicts demand drop from mandatory ABS in 2026, affecting pricing and market share.

• ABS mandate could cut 2%-4% demand, raise prices 3% to 5% by adding 3,000 rupees to costs.
• Hero MotoCorp, TVS Motor, and Bajaj Auto shares are down 0.9%-1.7% amid regulation concerns.
• Analysts rate Bajaj "buy," others "hold," despite Bajaj down 6% year to date.