Auto Stocks Outlook For The Week - 21 To 25.01.2019
Action in stocks of automobile companies is likely to be largely stock-specific next week, and the focus will be on Oct-Dec earnings of two major companies--Maruti Suzuki India and TVS Motor Co. TVS Motor, which will report its quarterly earnings on Tuesday, is expected to report a 7.9% on-year jump in bottom line to 1.66 bln rupees. Maruti Suzuki, India's largest carmaker and the second-largest
contributor to the Nifty A to index, is likely to post a net profit of 17.4 bln rupees, a fall of 3.2% from
the corresponding period last year. The company is scheduled to announce its earnings on Friday. News of companies receiving Bharat Stage VI compliance certificates from the Automotive Research Association of India will also move shares. Tata Motors yesterday said that it had received BS-VI compliance certificate for its 3.8L compressed natural gas engine. This week, automobile stocks underperformed the broader market. The Nifty Auto Index fell 0.2% during the week, while the Nifty 50 rose 1%. However, as the benchmark indices are likely to rise moderately on optimism over US-China trade talks and strong corporate earnings for the December quarter, losses in the auto
sector will be limited.
Source : Cogencis Information Services Ltd.
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Action in stocks of automobile companies is likely to be largely stock-specific next week, and the focus will be on Oct-Dec earnings of two major companies--Maruti Suzuki India and TVS Motor Co. TVS Motor, which will report its quarterly earnings on Tuesday, is expected to report a 7.9% on-year jump in bottom line to 1.66 bln rupees. Maruti Suzuki, India's largest carmaker and the second-largest
contributor to the Nifty A to index, is likely to post a net profit of 17.4 bln rupees, a fall of 3.2% from
the corresponding period last year. The company is scheduled to announce its earnings on Friday. News of companies receiving Bharat Stage VI compliance certificates from the Automotive Research Association of India will also move shares. Tata Motors yesterday said that it had received BS-VI compliance certificate for its 3.8L compressed natural gas engine. This week, automobile stocks underperformed the broader market. The Nifty Auto Index fell 0.2% during the week, while the Nifty 50 rose 1%. However, as the benchmark indices are likely to rise moderately on optimism over US-China trade talks and strong corporate earnings for the December quarter, losses in the auto
sector will be limited.
Source : Cogencis Information Services Ltd.
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