Auto Stocks Outlook For The Week – 05 to 09.02.2018
The shares of most automobile companies are likely to fall next week on expected weakness in the performance of shares of heavyweights such as Maruti Suzuki India Ltd and Tata Motors Ltd. PSU bank shares seen under pressure next week The new launches by automobile manufacturers at the Auto Expo 2018, to be held in Greater Noida from Wednesday to Feb 14. Automobile companies released their monthly sales data for January with the country's largest carmaker Maruti Suzuki's total sales rising 4.8% on year to 151,351 units. The earnings of Tata Motors Ltd, the highest weighted stock in the Nifty Auto index with 21.6% share, to be detailed on Monday. Strong Land Rover sales, a low base for volumes of the India business and sales of subsidiary Jaguar Land Rover's Chinese joint venture is expected to lift Tata Motors Ltd's OctDec consolidated net profit 25 times on year to 23.8 bln rupees. The stock of Mahindra and Mahindra Ltd is likely to rise as the Union Budget for 2018-19 (Apr-Mar) allocated higher funds for roads and highways, which is likely to boost rural economy, leading to an expected spur in demand for tractors. Hero MotoCorp Ltd will detail its earnings on Tuesday and is likely to post a bottomline of 8.24 bln rupees. Eicher Motors Ltd, which will detail its earnings on Wednesday, is likely to post consolidated net profit of 5.38 bln rupees.
Source : Cogencis Information Services Ltd.
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The shares of most automobile companies are likely to fall next week on expected weakness in the performance of shares of heavyweights such as Maruti Suzuki India Ltd and Tata Motors Ltd. PSU bank shares seen under pressure next week The new launches by automobile manufacturers at the Auto Expo 2018, to be held in Greater Noida from Wednesday to Feb 14. Automobile companies released their monthly sales data for January with the country's largest carmaker Maruti Suzuki's total sales rising 4.8% on year to 151,351 units. The earnings of Tata Motors Ltd, the highest weighted stock in the Nifty Auto index with 21.6% share, to be detailed on Monday. Strong Land Rover sales, a low base for volumes of the India business and sales of subsidiary Jaguar Land Rover's Chinese joint venture is expected to lift Tata Motors Ltd's OctDec consolidated net profit 25 times on year to 23.8 bln rupees. The stock of Mahindra and Mahindra Ltd is likely to rise as the Union Budget for 2018-19 (Apr-Mar) allocated higher funds for roads and highways, which is likely to boost rural economy, leading to an expected spur in demand for tractors. Hero MotoCorp Ltd will detail its earnings on Tuesday and is likely to post a bottomline of 8.24 bln rupees. Eicher Motors Ltd, which will detail its earnings on Wednesday, is likely to post consolidated net profit of 5.38 bln rupees.
Source : Cogencis Information Services Ltd.
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