www.rupeedesk.in
Stocks of major automobile manufacturing companies may trade in range with a negative bias during the coming week due to the continued lull in the sector on account of falling sales. Investors still do not have confidence in the auto space in the absence of any positive triggers. With the earnings season beginning, and some automobile manufacturers set to post lower-than-expected results, the auto stocks would move in a narrow range.
Tata Motors Ltd saw its counter rise on account of the company posting strong global sales figures for March, something which would correct over the next week as the company has lost ground in its domestic sales, and does not present a very pretty picture.
The continued depreciation in the value of the Japanese Yen would see Maruti Suzuki India Ltd's counter gaining value even through the coming week. The value gain would be controlled in the run up to the company's quarterly earnings scheduled to be detailed on Apr 26.
Stocks of major automobile manufacturing companies may trade in range with a negative bias during the coming week due to the continued lull in the sector on account of falling sales. Investors still do not have confidence in the auto space in the absence of any positive triggers. With the earnings season beginning, and some automobile manufacturers set to post lower-than-expected results, the auto stocks would move in a narrow range.
Tata Motors Ltd saw its counter rise on account of the company posting strong global sales figures for March, something which would correct over the next week as the company has lost ground in its domestic sales, and does not present a very pretty picture.
The continued depreciation in the value of the Japanese Yen would see Maruti Suzuki India Ltd's counter gaining value even through the coming week. The value gain would be controlled in the run up to the company's quarterly earnings scheduled to be detailed on Apr 26.