Auto Stocks Outlook for the week – 09 to 13.01.2017
Auto Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
Stocks of automobile companies are likely to continue positive momentum next week after Nifty Auto index touched
its one-month high of 9589.80 points yesterday. The gap that was created after the government withdrew old 500-
rupee and 1,000-rupee currency notes from circulation is likely to get filled now and all the stocks in the index are
looking good next week.
The government's decision on Nov 8 led to a situation of cash crunch among consumers and the subsequent cut in
discretionary spending caused a fall in demand for automobiles. Two-wheeler companies are expected to report a
weak December quarter as they were the worst hit in the automobile industry on account of currency curbs.
However, are bullish on Eicher Motors Ltd, Maruti Suzuki India Ltd and Ashok Leyland Ltd over long-term. This
week, bullish on most stocks in Nifty Auto index including Maruti Suzuki India, Hero MotoCorp Ltd, Bajaj Auto
Ltd, and Ashok Leyland.
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Auto Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )