Auto Stocks
Outlook for the week – 11 to 14.08.2014
Automobile manufacturers' stocks
are seen gaining in the week ahead as consumer
sentiment, particularly for
passenger cars and utility vehicles has improved. Yesterday,
Society of Indian Automobile
Manufacturers released sales figures for July. Local
passenger car sales grew for the
third consecutive month in July, up 5.04% on year to
137,873 units.
The Industry body sees domestic
passenger car sales growing 6-7% in 2014-15 (Apr-
Mar), Director General Vishnu
Mathur said yesterday. In 2013-14, passenger car sales
decreased 4.65%, the second
consecutive annual fall.
Stocks of automobile
manufacturers will also get direction from the Apr-Jun earnings that
Tata Motors declares on Monday.
Tata Motors' consolidated net profit for the quarter
ended June is likely to double
year on year to 37.43 bln rupees on the back of strong volumes of UK-based subsidiary Jaguar Land Rover.
