Auto Stocks Outlook For The Week – 26 To 29.12.2017
Stocks of most automobile companies are seen rising next week taking cues from benchmark indices and on account of a strong positive outlook on the heavyweights in the sector. Key equity indices Nifty 50 and Sensex today hit their lifetime highs taking support from gains in the index heavyweights such as State Bank of India Ltd and Tata Consultancy Services Ltd. The trend continue to have a positive view on the automobile sector in the long term due to recovery in rural demand, strict implementation of overloading norms in several states, and gradual smoothening of goods and
services tax issues. The largest carmaker Maruti Suzuki India Ltd became the fifth largest Indian
company with a market capitalisation of 2.98 trln rupees on Tuesday. The company is among the top picks of most investors due to its product portfolio, market share, dealership presence and continuous uptick in average selling price due to expanding portfolio of premium cars. The company is planning to formulate its electric mobility strategy by February after conducting a survey to customer demands in the segment. At a time when the government is pushing for electric mobility by 2030, any move from a major automobile manufacturer will be closely eyed by investors. Tata Motors Ltd and Mahindra and Mahindra Ltd are already supplying electric cars to the state-run Energy Efficiency Services Ltd under a tender floated in August. Most automobile manufacturers including Hero MotoCorp Ltd, Maruti Suzuki, Tata Motors and M&M have also announced that they will increase the prices of their products in January to offset rising input costs, and thereby will help the companies to protect their margins to some extent.
Source : Cogencis Information Services Ltd.
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Stocks of most automobile companies are seen rising next week taking cues from benchmark indices and on account of a strong positive outlook on the heavyweights in the sector. Key equity indices Nifty 50 and Sensex today hit their lifetime highs taking support from gains in the index heavyweights such as State Bank of India Ltd and Tata Consultancy Services Ltd. The trend continue to have a positive view on the automobile sector in the long term due to recovery in rural demand, strict implementation of overloading norms in several states, and gradual smoothening of goods and
services tax issues. The largest carmaker Maruti Suzuki India Ltd became the fifth largest Indian
company with a market capitalisation of 2.98 trln rupees on Tuesday. The company is among the top picks of most investors due to its product portfolio, market share, dealership presence and continuous uptick in average selling price due to expanding portfolio of premium cars. The company is planning to formulate its electric mobility strategy by February after conducting a survey to customer demands in the segment. At a time when the government is pushing for electric mobility by 2030, any move from a major automobile manufacturer will be closely eyed by investors. Tata Motors Ltd and Mahindra and Mahindra Ltd are already supplying electric cars to the state-run Energy Efficiency Services Ltd under a tender floated in August. Most automobile manufacturers including Hero MotoCorp Ltd, Maruti Suzuki, Tata Motors and M&M have also announced that they will increase the prices of their products in January to offset rising input costs, and thereby will help the companies to protect their margins to some extent.
Source : Cogencis Information Services Ltd.
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