Auto Stocks Outlook
for the week – 11 to 15.07.2016
(Bias positive on
good monsoon; sales data eyed)
Stocks of major automobile companies are seen trading in a
range with a positive bias aided by
indications of an above-average monsoon this year. The
market will also appraise June sales data, to
be announced by the Society of Indian Automobile
Manufacturers on Monday.
The CNX Auto Index, which closed marginally lower this week,
may well test the 9000-point mark if
it manages to break the crucial resistance of 8900 Points.
Maruti Suzuki, which is viewed positively
due to the strong fundamentals of an ever-popular product
portfolio and strong order book driven by
its Vitara Brezza and Baleno cars.