Automobile Stocks for the week – 13 to 17.04.2015
( www.rupeedesk.in )
Stocks
of major automobile companies are seen in a range with a positive bias next
week, as
investors
are expected to stay invested because of sustained demand in key categories
over the medium term.
The
Society of Indian Automobile Manufacturers sees automobile sales in 2015-16
(Apr-Mar) "moderately higher" than the last year. However, officials
of the industry lobby did not give an estimate for the likely growth.
SIAM
last announced sales numbers for March and the financial year ended Mar 31. In
2014-15, automobile sales grew 7.2% on year to 19.75 mln units. Passenger car
sales rose 5% on year to 1.88 mln units, aided by product launches.
Sales
across key categories such as scooters, medium and heavy commercial vehicles
and passenger cars are seen rising on a sustained basis over the next year, and
are driving up valuations of key companies in these spaces.
