With government's thrust on infrastructure, private capex cycle revival and need for personal mobility, analysts expect PV and CV space, in particular, to witness healthy pick-up in sales volume
This is for an aggregate consideration of Rs 3,750 crore as the first tranche of the potential investment aggregating Rs 7,500 crore, announced by the company in October 2021
Among the pack, Tata Motors seems to be a slow mover, as the stock may see an upside of 8 per cent on crossing the major hurdles.
The Nifty Auto index and the key stocks are trading near significant resistance levels while exhibiting sideways movement, upside breakout could see significant long additions.
Shareholders of two lending companies clear plans to sell loan assets up to Rs 14,500 crore.
The Nifty Auto index has broken key support levels, and looks weak on the weekly charts indicating a downside of 5 per cent.
Leading carmakers Maruti Suzuki, Hyundai, Toyota and Honda witnessed a drop in vehicle dispatches to dealers last month as the global semiconductor shortage continued to impact production. Tata Motors, Mahindra & Mahindra, Skoda and MG Motor, on the other hand, reported an increase in wholesales in February as compared to the same month last year. The country's largest carmaker Maruti Suzuki India (MSI) said its domestic sales slipped 8.46 per cent to 1,40,035 units as against 1,52,983 units in February 2021. "The shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in the domestic market. The company took all possible measures to minimise the impact," the auto major noted. Sales of the company's mini cars, comprising Alto and S-Presso, fell 17.81 per cent to 19,691 units last month as compared to 23,959 in the same month last year. Similarly, dispatch of compact models like Swift, Celerio, Ignis, Baleno and Dzire dipped 3.38
It had first grabbed the pole position in the SUV segment in October 2021 after the launch of the Punch, a sub-compact SUV offering
Price hikes to pass on the costs will be difficult amid falling volumes
Equity value of India business comprised of commercial and passenger vehicles now accounts for over half the value in SOTP calculations as compared to 0-30% two years ago
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.
Late last month, the Tatas took over the airline from govt and are now putting in place various steps to enhance customer service, improve meals and operate flights with minimum delays
At 10:31 am; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Realty indices were up 1 per cent, against a 0.5 per cent gain in the benchmark Nifty50 index
Bata India, Bharti Airtel, Data Patterns, Escorts, Godrej Consumer, Greaves Cotton, Gujarat Gas, IRCTC, J&K Bank, Jindal Steel, Latent View, NMDC, SJS Enterprises and TTML to report results today.
Firm's domestic automotive business accounts for 31% of consolidated net sales in Q3
At 10:42 am; Nifty Auto index, the top gainer among sectoral indices, was up 1.6 per cent, as compared to 0.39 per cent decline in the Nifty50 index.
Total domestic sales grew 26% at 72,485 units in Jan 2022 as against 57,649 vehicles sold in the same month last year
The company guided for robust demand prospects with JLR order-book at 1.55 lakh units, which coupled with gradual improvement in chip availability to result in healthy profitability going forward.
Adani Ports, Indian Hotels and Tech Mahindra are some of the prominent companies to announce results today.
It is optimistic of being a net debt-free company by 2024