The Reserve Bank of India's first quarter policy review on Tuesday and monthly sales numbers by automakers due Wednesday are expected to set the trend for auto stocks in the coming week. Hero MotoCorp, Mahindra & Mahindra and Bajaj Auto are expected to come out with better sales numbers for July whereas Tata Motors' despatch figures for the month could be disappointing. Maruti is expected to be rangebound in the coming week with a slightly negative bias. Maruti Suzuki's plant in Manesar, Haryana has been shut since Jul 18 following labour riot. The company will detail its Apr-Jun results on Saturday. However, unless the results are far from expectations, they won't impact the stock's movement significantly as focus is on Manesar developments. Any significant change in repo rate by the Reserve Bank on Tuesday will lend direction to the broad market and interest-sensitive auto stocks.
(www.rupeedesk.in)
