Given the current market volatility, auto stocks seem to be a better bet for long side trades. Select stocks like M&M and TVS Motor can rally up to another 12 per cent.
Analysts also believe that the government's export duty hike on steel and plastic bodes well for the auto sector due to elevated commodity inflation.
With the economy picking up, the management expects the demand for motorcycles and scooters to see a positive turnaround in the coming months.
The company is comfortable with its current inventory level, which is around six weeks
The company's board has recommended a final dividend of Rs 35 per share
The next two quarters, according to analysts at Motilal Oswal Securities, are likely to see a sharp margin impact and corporate commentaries will worsen before they get better
In the past six trading days, the stock has declined 11 per cent after media reported that the I-T department said Hero MotoCorp made over Rs 1,000 crore in bogus expenses
Shares of ONGC are likely to be in focus as the government will sell 1.5 per cent stake in the oil producer through an offer for sale (OFS) over the next two trading sessions at Rs 159 per share.
Income Tax Department carried out a search and seizure operation on March 23 on Hero Motocorp and its chairman and managing director Pawan Munjal at multiple locations in Delhi-NCR
About 25 locations in Delhi, Gurugram and other parts of northern India.
Nifty Auto, Nifty Realty, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services indices were down in the range of 4 per cent to 5 per cent on the NSE.
As part of its transition to the EV business, the company has started forming tie-ups and partnerships with other firms
Apart from the 8 stocks among the Nifty50 index, a total of 26 stocks too dropped to their respective 52-week lows among the Nifty500 index.
Likely spike in fuel costs following soaring crude prices could delay recovery in the world's largest market for scooters and motorcycles, said analysts
Price hikes to pass on the costs will be difficult amid falling volumes
The Munjal brothers were entangled in a legal battle to claim ownership of the Hero brand
The Nifty Auto index can rally towards the 12,500-mark on a breakout above 11,900-level; base support seen around the 11,000-mark.
The stock will turn ex-date for interim dividend of Rs 60 per share on Monday, February 21, 2022
It has already tied up with Bengaluru-based Ather for its fast-charging technology
Apollo Hospitals, Ashok Leyland, Bajaj Hindusthan, Divis Labs, Fortis Healthcare, Glenmark, Godrej Industries, IDFC, India Cements, Jet Airways, PFC, Shree Renuka Sugars, Star Health and Voltas to ann