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Stocks of major automakers look positive and mostly range-bound for the coming week. Maruti Suzuki is seen moving in a narrow range, and looks positive for the coming week, but sideways for a few weeks to follow.
Mahindra & Mahindra touched a life-time high yesterday, and to predict the exact movement in the stock would be tough. However, sees the stock trading with a positive bias during the first couple of days of the week ahead. We expect Hero MotoCorp scrip to witness profit booking at higher levels during the coming week. Lack of any trigger, and a muted year in terms of sales in the first month of the ongoing financial year (Apr-Mar) would result in a largely range-bound action next few weeks. Among major automobile manufacturers, Ashok Leyland Ltd is scheduled to detail its earnings on May 10.
