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Stocks of major automakers are seen trading with a negative bias in the coming week on subdued sales during the month of July, and no cut in interest rates by the Reserve Bank ofIndia. Most of the major automobile manufacturers reported on-year losses in their July sales, which put aside hopes of any recovery coming soon. The Reserve Bank of India in its quarterly monetary review on Tuesday kept key interest rates unchanged. The automobile sector had been demanding a cut in the same in order to boost sales that have been falling by the month.
Tata Motors Ltd and Mahindra & Mahindra Ltd are scheduled to detail their Apr-Jun quarter earnings on Aug 7 and Aug 13 respectively. M&M is expected to post good numbers, with a 15-17% rise (on year) in the bottomline, while Tata Motors looks to come out with worse-than-expected numbers, mainly on account of a poor show in their commercial vehicle space. Heavy discounts being offered would keep the stock of Maruti Suzuki India Ltd subdued in the coming week. The stocks of commercial vehicle manufacturers would continue to underperform during the coming week.
Stocks of major automakers are seen trading with a negative bias in the coming week on subdued sales during the month of July, and no cut in interest rates by the Reserve Bank ofIndia. Most of the major automobile manufacturers reported on-year losses in their July sales, which put aside hopes of any recovery coming soon. The Reserve Bank of India in its quarterly monetary review on Tuesday kept key interest rates unchanged. The automobile sector had been demanding a cut in the same in order to boost sales that have been falling by the month.
Tata Motors Ltd and Mahindra & Mahindra Ltd are scheduled to detail their Apr-Jun quarter earnings on Aug 7 and Aug 13 respectively. M&M is expected to post good numbers, with a 15-17% rise (on year) in the bottomline, while Tata Motors looks to come out with worse-than-expected numbers, mainly on account of a poor show in their commercial vehicle space. Heavy discounts being offered would keep the stock of Maruti Suzuki India Ltd subdued in the coming week. The stocks of commercial vehicle manufacturers would continue to underperform during the coming week.
