www.rupeedesk.in
Stocks of major automobile manufacturers are seen trading with a positive bias
throughout the week ahead, but with most counters being volatile, backed largely by the
broader indices, which, too, are expected to be volatile with results of the General
Elections scheduled for Friday.
Poll results will be the single largest driving force for stocks from sectors, and in the
absence of any major automobile manufacturer detailing its financial results for the Jan-
Mar quarter.
Various TV channels are expected to start telecasting exit polls from 1830 IST on
Monday itself, post the end of the ninth and last phase of polling, and that should set the
trend for trading throughout the week.
The trend for the counter of Maruti Suzuki India Ltd is seen positive during the week on
the reported number of footfalls in showrooms increasing, and sales, at least for the
largest Indian car manufacturer, seen close to bottoming out in the coming couple of
months.
Earnings of Hero MotoCorp Ltd, expected to be declared soon, will ensure that the
company's counter trade in a narrow range throughout the week. Hero MotoCorp's Jan-
Mar net profit is seen falling 9% on year to 5.24 bln rupees mainly due to impact of the
excise duty cut in the interim budget for 2014-15 (Apr-Mar) on the company's. Excise
duty on automobiles has been cut by 300-600 basis points in the interim budget in a bid
to boost demand.
Stocks of major automobile manufacturers are seen trading with a positive bias
throughout the week ahead, but with most counters being volatile, backed largely by the
broader indices, which, too, are expected to be volatile with results of the General
Elections scheduled for Friday.
Poll results will be the single largest driving force for stocks from sectors, and in the
absence of any major automobile manufacturer detailing its financial results for the Jan-
Mar quarter.
Various TV channels are expected to start telecasting exit polls from 1830 IST on
Monday itself, post the end of the ninth and last phase of polling, and that should set the
trend for trading throughout the week.
The trend for the counter of Maruti Suzuki India Ltd is seen positive during the week on
the reported number of footfalls in showrooms increasing, and sales, at least for the
largest Indian car manufacturer, seen close to bottoming out in the coming couple of
months.
Earnings of Hero MotoCorp Ltd, expected to be declared soon, will ensure that the
company's counter trade in a narrow range throughout the week. Hero MotoCorp's Jan-
Mar net profit is seen falling 9% on year to 5.24 bln rupees mainly due to impact of the
excise duty cut in the interim budget for 2014-15 (Apr-Mar) on the company's. Excise
duty on automobiles has been cut by 300-600 basis points in the interim budget in a bid
to boost demand.
