Auto Stocks Outlook for the week – 07 to 11.08.2017
Auto Stocks Outlook for the week – 07 to 11.08.2017
( www.rupeedesk.in )
Stocks of most automobile companies are expected to rise next week on the back of a positive sentiment for the sector due to prospects of good monsoon and robust monthly sales figures of July. India's largest two-wheeler manufacturer, Hero MotoCorp Ltd, posted its third consecutive monthly sales over 600,000 units. The company's sales volume grew 17% on year to 623,269 units in July.
The company remains the top pick in the two-wheeler space on account of recovery in rural demand, onset of marriage season, new product launches and improvement in export volumes due to penetration in new markets. The company is expected to be one of the top beneficiaries of good monsoon as more than half of the sales of the New Delhi-based automaker come from rural regions. The stocks of Maruti Suzuki soared to hit its lifetime high of 7,920 rupees on better-than-expected July sales of 165,346 units, 20.6% up on year. Continue to like the company due to sustained demand of its popular models such as Baleno hatchback and Vitara Brezza compact sport utility vehicle and fresh capacity addition at the Gujarat plant. The company is also expected to reap benefits from improved rural sentiment because over one-third of the sales come from rural markets. Mahindra & Mahindra Ltd yesterday reported lower-than-expected earnings due to a fall in its commercial vehicle sales and nominal growth in its passenger vehicle business. While the company witnessed weak performance in other segments, its tractor segment is seen benefitting due to improving rural economy.
Source : Cogencis Information Services Ltd.
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Auto Stocks Outlook for the week – 07 to 11.08.2017
( www.rupeedesk.in )
Stocks of most automobile companies are expected to rise next week on the back of a positive sentiment for the sector due to prospects of good monsoon and robust monthly sales figures of July. India's largest two-wheeler manufacturer, Hero MotoCorp Ltd, posted its third consecutive monthly sales over 600,000 units. The company's sales volume grew 17% on year to 623,269 units in July.
The company remains the top pick in the two-wheeler space on account of recovery in rural demand, onset of marriage season, new product launches and improvement in export volumes due to penetration in new markets. The company is expected to be one of the top beneficiaries of good monsoon as more than half of the sales of the New Delhi-based automaker come from rural regions. The stocks of Maruti Suzuki soared to hit its lifetime high of 7,920 rupees on better-than-expected July sales of 165,346 units, 20.6% up on year. Continue to like the company due to sustained demand of its popular models such as Baleno hatchback and Vitara Brezza compact sport utility vehicle and fresh capacity addition at the Gujarat plant. The company is also expected to reap benefits from improved rural sentiment because over one-third of the sales come from rural markets. Mahindra & Mahindra Ltd yesterday reported lower-than-expected earnings due to a fall in its commercial vehicle sales and nominal growth in its passenger vehicle business. While the company witnessed weak performance in other segments, its tractor segment is seen benefitting due to improving rural economy.
Source : Cogencis Information Services Ltd.
