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Stocks of major automakers are likely to take cues from sales numbers of February to be out from Saturday, with market leader Maruti Suzuki India Ltd seen trading with a negative bias next week.
Following the announcement, there have been queries and requests for clarification from investors and media related to pricing and funding of capacity expansion in the proposed contract manufacturing arrangement. According to media reports, the company yesterday issued clarification on the issues. The company is expected to post good sales numbers for February.
With its newly-launched Celerio receiving a better-than-expected response, Maruti Suzuki is likely to post good sales numbers due to despatches of the new vehicle. For the first three days next week, the auto stocks will take cues from the February sales numbers. Most of the stocks are likely to trade positive as good sales numbers are expected. The trade is going to be stock specific.
Hero MotoCorp Ltd had launched a revamped Splendor and Passion motorcycles on Feb 5 at the 12th Auto Expo.It is expected to show good numbers for February as its demand should be able to match the production levels. As the commercial vehicles segment remains subdued, Ashok Leyland Ltd is likely to disappoint the Street in terms of sales this month. Same for Tata Motors Ltd. Although, not much is expected from domestic sales, its global sales are likely to be driven by the Jaguar Land Rover yet again. Tata Motors Ltd's counter continues to be driven by the performance of itssubsidiary JLR, which sold a record 425,000 cars globally during 2013, thereby providing a balm to the poor standalone domestic performance of the parent company. JLR contributes a lion's share to the company's revenues.
Stocks of major automakers are likely to take cues from sales numbers of February to be out from Saturday, with market leader Maruti Suzuki India Ltd seen trading with a negative bias next week.
Following the announcement, there have been queries and requests for clarification from investors and media related to pricing and funding of capacity expansion in the proposed contract manufacturing arrangement. According to media reports, the company yesterday issued clarification on the issues. The company is expected to post good sales numbers for February.
With its newly-launched Celerio receiving a better-than-expected response, Maruti Suzuki is likely to post good sales numbers due to despatches of the new vehicle. For the first three days next week, the auto stocks will take cues from the February sales numbers. Most of the stocks are likely to trade positive as good sales numbers are expected. The trade is going to be stock specific.
Hero MotoCorp Ltd had launched a revamped Splendor and Passion motorcycles on Feb 5 at the 12th Auto Expo.It is expected to show good numbers for February as its demand should be able to match the production levels. As the commercial vehicles segment remains subdued, Ashok Leyland Ltd is likely to disappoint the Street in terms of sales this month. Same for Tata Motors Ltd. Although, not much is expected from domestic sales, its global sales are likely to be driven by the Jaguar Land Rover yet again. Tata Motors Ltd's counter continues to be driven by the performance of itssubsidiary JLR, which sold a record 425,000 cars globally during 2013, thereby providing a balm to the poor standalone domestic performance of the parent company. JLR contributes a lion's share to the company's revenues.
