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.
The Nifty Auto index is slowly inching towards 200-DMA; above which the index can gain up to 4 per cent.
Automobile company announces leadership role as net profit dips 5 per cent in March quarter.
At 02:27 PM: Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Auto and Nifty Auto index were down between 1.3 per cent and 2 per cent on the NSE.
High raw material prices and semiconductor shortage puts recovery in doubt for companies' plans
TVS Motorcycle sales grew by 4%, from 133,227 units in April 2021 to 139,027 units in April 2022
By signing this MOU, TVS Motor and Rapido are bringing together their strength in mobility and seamless technology platform, respectively, to deliver a winning proposition to this demanding user base
Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles
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.
Auto stocks are likely to react to the monthly sales reported over the last two days. Tata Motors and M&M sales reported strong sales.
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 TVS Group's family recast deal got final nod from NCLAT, based on which each of the four family groups got ownership of the businesses they were managing, scrapping the holding company format
Any value unlocking in the EV subsidiary could drive further gains
In Q3FY22, TVS Motor registered highest-ever operating Ebitda of Rs 568 crore, while margin improved 50 bps at 10 per cent from 9.5 per cent YoY
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.
Speth had worked in companies like BMW, Premier Auto Group and Linde among others
The company's operating EBITDA margin stood at 10 per cent during the period under review as against 9.5 per cent during the third quarter ended December 2020
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.
The Company's total exports registered sales of 97,858 units in January 2022 as against sales of 100,926 units in the month of January 2021