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Auto Stocks Outlook for the week – 09 to 13.01.2017

Auto Stocks Outlook for the week – 09 to 13.01.2017


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Auto Stocks Outlook for the week – 09 to 13.01.2017
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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.