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Stocks of most automakers are seen moving in tandem with the broader market next week in absence of any major sector-specific trigger. Mahindra & Mahindra Ltd and Tata Motors Ltd may defy broader trend to trade positive. Although Society of Indian Automobile Manufacturers is likely to detail October sales figure next week, it may not affect individual stocks as most companies have already announced their despatches for the month. Tata Motors is likely to open higher Monday, as the company posted robust growth for the September quarter. Tata Motors Jul-Sep consolidated net profit stood at 35.42 bln rupees versus the estimated 28.45 bln rupees, driven primarily by its subsidiary Jaguar Land Rover's profit, which grew 66.2% year-on-year.
Tata Motors is likely to take positive cues from yesterday on strong September quarter results. M&M will report its Jul-Sep quarter earnings on Wednesday. It is expected to report good results on the back of strong tractor sales in the September quarter. TVS Motors Ltd and Eicher Motors Ltd are likely to remain in focus.
Stocks of most automakers are seen moving in tandem with the broader market next week in absence of any major sector-specific trigger. Mahindra & Mahindra Ltd and Tata Motors Ltd may defy broader trend to trade positive. Although Society of Indian Automobile Manufacturers is likely to detail October sales figure next week, it may not affect individual stocks as most companies have already announced their despatches for the month. Tata Motors is likely to open higher Monday, as the company posted robust growth for the September quarter. Tata Motors Jul-Sep consolidated net profit stood at 35.42 bln rupees versus the estimated 28.45 bln rupees, driven primarily by its subsidiary Jaguar Land Rover's profit, which grew 66.2% year-on-year.
Tata Motors is likely to take positive cues from yesterday on strong September quarter results. M&M will report its Jul-Sep quarter earnings on Wednesday. It is expected to report good results on the back of strong tractor sales in the September quarter. TVS Motors Ltd and Eicher Motors Ltd are likely to remain in focus.
