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Stocks of major automakers are expected to track sales numbers to be out on the first two days of October as well as the influence of nearing festive season. The stocks should move on a positive note as sales numbers are expected to be out on the first and second day of October. The coming week will be all about numbers and volumes that will influence the movement of the week. We expect automobile companies to report good sales numbers for September. In anticipation of the festive season, short term investors start building stocks could also impact positively. All auto stocks are seen doing well except Tata Motors, as their domestic sales numbers are always low both in commercial as well as passenger vehicle segment. Hero MotoCorp Ltd is expected to show good sales numbers for September. Maruti Suzuki India Ltd could be under pressure as the sales volumes are expected to be flat on year. Rising interest rates and fuel prices have weighed heavily on the company. Therefore we expect it (the stock) to rise next week. The government had, in the week, said there was no proposal of a major diesel price hike at the moment. So that aspect should not be affecting the stocks as of now. On the other hand, Mahindra & Mahindra Ltd is seen trading down as their utility vehicles sector in the last two months have declined in volumes by 25-30%.
Stocks of major automakers are expected to track sales numbers to be out on the first two days of October as well as the influence of nearing festive season. The stocks should move on a positive note as sales numbers are expected to be out on the first and second day of October. The coming week will be all about numbers and volumes that will influence the movement of the week. We expect automobile companies to report good sales numbers for September. In anticipation of the festive season, short term investors start building stocks could also impact positively. All auto stocks are seen doing well except Tata Motors, as their domestic sales numbers are always low both in commercial as well as passenger vehicle segment. Hero MotoCorp Ltd is expected to show good sales numbers for September. Maruti Suzuki India Ltd could be under pressure as the sales volumes are expected to be flat on year. Rising interest rates and fuel prices have weighed heavily on the company. Therefore we expect it (the stock) to rise next week. The government had, in the week, said there was no proposal of a major diesel price hike at the moment. So that aspect should not be affecting the stocks as of now. On the other hand, Mahindra & Mahindra Ltd is seen trading down as their utility vehicles sector in the last two months have declined in volumes by 25-30%.
