Stocks of automobile companies are expected to follow the broad market in the coming week with a positive bias. A late pick up and better geographical distribution in monsoon rains are seen aiding the stock as it is likely to boost tractor sales.
Monsoon rains that were around 19% below normal in July have improved this month narrowing the season deficit to 16% as of today. We are also upbeat on Maruti Suzuki India Ltd and that the company is expected to start ramping up its production to earlier levels within three to four weeks. On Thursday, the company said it would restart partial production at its trouble-prone Manesar factory in Haryana on Aug 21.
Tata Motors shares are expected to be in the positive territory in the next 10-15 days. The company reported a 21% jump in July global sales aided by subsidiary Jaguar Land Rover's continued strong performance.
Bajaj Auto and Hero MotoCorp shares are seen moving in a narrow range next week.
www.rupeedesk.in
Monsoon rains that were around 19% below normal in July have improved this month narrowing the season deficit to 16% as of today. We are also upbeat on Maruti Suzuki India Ltd and that the company is expected to start ramping up its production to earlier levels within three to four weeks. On Thursday, the company said it would restart partial production at its trouble-prone Manesar factory in Haryana on Aug 21.
Tata Motors shares are expected to be in the positive territory in the next 10-15 days. The company reported a 21% jump in July global sales aided by subsidiary Jaguar Land Rover's continued strong performance.
Bajaj Auto and Hero MotoCorp shares are seen moving in a narrow range next week.
www.rupeedesk.in
