Auto Stocks Outlook For The Week – 20 To 24.11.2017
Auto Stocks Outlook For The Week – 20 To 24.11.2017
Stocks of automobile companies are seen trading on a mixed note next week, with focus on Maruti Suzuki India Ltd and TVS Motor Co Ltd. The automobile index is likely to gain from a strong market sentiment after Moody's Investors Service upgraded India's sovereign debt rating yesterday. The parent company of Maruti Suzuki, Suzuki Motor Corp, last day surprised the market by announcing that it will introduce electric vehicles in India by 2020 in a cooperative partnership with Toyota
Motor Corp. Suzuki Motor is already in the process of setting up a battery manufacturing unit at its Gujarat plant for electric and hybrid cars, under a joint venture with Toshiba and Denso. At the company's annual general meeting in September, Maruti Suzuki Chairman R.C. Bhargava said
the company would not "hold back" in introducing electric vehicles as soon as it determines that
customers are ready to buy them. The decision towards electric mobility from the automobile giant
comes at a time when the government has been aggressively pushing the idea of complete electrification of vehicles by 2030. Strong rupee may weigh next week Seen in narrow range,
sentiment may revive Tata Motors Ltd and Mahindra & Mahindra Ltd are already in the process of supplying 10,000 electric vehicles to state-run Energy Efficiency Services Ltd. Also see the advancement of Bharat Stage-VI fuel rollout in Delhi from April as a positive for the industry as this would help test and validate Bharat Stage-VI compliant vehicles. The move will make the industry ready by 2020 for a complete rollout when automobile companies would have to manufacture only Bharat Stage-VI compliant vehicles, Society of Indian Automobile Manufacturers said Thursday.
Eicher Motors Ltd released its Jul-Sep earnings on Tuesday and reported a 25.4% on-year rise in its
consolidated net profit to 5.2 bln rupees. While we continue to believe that Eicher Motors is a quality
franchise with its growth story still intact, we maintain our 'HOLD' rating due to limited upside in the
stock.
Source : Cogencis Information Services Ltd.
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Auto Stocks Outlook For The Week – 20 To 24.11.2017
Motor Corp. Suzuki Motor is already in the process of setting up a battery manufacturing unit at its Gujarat plant for electric and hybrid cars, under a joint venture with Toshiba and Denso. At the company's annual general meeting in September, Maruti Suzuki Chairman R.C. Bhargava said
the company would not "hold back" in introducing electric vehicles as soon as it determines that
customers are ready to buy them. The decision towards electric mobility from the automobile giant
comes at a time when the government has been aggressively pushing the idea of complete electrification of vehicles by 2030. Strong rupee may weigh next week Seen in narrow range,
sentiment may revive Tata Motors Ltd and Mahindra & Mahindra Ltd are already in the process of supplying 10,000 electric vehicles to state-run Energy Efficiency Services Ltd. Also see the advancement of Bharat Stage-VI fuel rollout in Delhi from April as a positive for the industry as this would help test and validate Bharat Stage-VI compliant vehicles. The move will make the industry ready by 2020 for a complete rollout when automobile companies would have to manufacture only Bharat Stage-VI compliant vehicles, Society of Indian Automobile Manufacturers said Thursday.
Eicher Motors Ltd released its Jul-Sep earnings on Tuesday and reported a 25.4% on-year rise in its
consolidated net profit to 5.2 bln rupees. While we continue to believe that Eicher Motors is a quality
franchise with its growth story still intact, we maintain our 'HOLD' rating due to limited upside in the
stock.
Source : Cogencis Information Services Ltd.
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