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Stocks of major automakers are expected to trade in line with the broader market, with market leader Tata Motors Ltd seen trading range-bound next week. The 50-share Nifty and the 30-stock Sensex hit a lifetime high intraday on the back of sustained inflows from foreign institutional investors amid growing perception towards expectations on general elections. However, they remain cautious hereon as the rally is likely to pause next week on profit booking. Market may witness a healthy correction. But it is expected that the underlying bias will remain positive in the run-up to the elections, and on sustained FII inflows and signs of improving macroeconomic conditions.
Among major auto manufacturers, Tata Motors is likely to be range-bound as the global
wholesale numbers of its subsidiary Jaguar Land Rover are expected to grow at a slower
rate this time around. The global wholesale numbers of JLR will be declared on Friday
next week. Tata Motors continues to be driven by the performance of its subsidiary 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 expected to trade in line with the broader market, with market leader Tata Motors Ltd seen trading range-bound next week. The 50-share Nifty and the 30-stock Sensex hit a lifetime high intraday on the back of sustained inflows from foreign institutional investors amid growing perception towards expectations on general elections. However, they remain cautious hereon as the rally is likely to pause next week on profit booking. Market may witness a healthy correction. But it is expected that the underlying bias will remain positive in the run-up to the elections, and on sustained FII inflows and signs of improving macroeconomic conditions.
Among major auto manufacturers, Tata Motors is likely to be range-bound as the global
wholesale numbers of its subsidiary Jaguar Land Rover are expected to grow at a slower
rate this time around. The global wholesale numbers of JLR will be declared on Friday
next week. Tata Motors continues to be driven by the performance of its subsidiary 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.
