www.rupeedesk.in
Stocks of major automobile companies are likely to see an uptrend next week following a pick-up in festive sales, with Diwali on Nov 13. The passenger vehicles segment looks positive.
India's largest carmaker Maruti Suzuki India Ltd, which posted a better-than-expected quarterly result, would continue to be on a bull run. The company's new Alto 800, receiving a high number of bookings, looks to dominate the low-range hatchback segment in the festive season, giving Maruti Suzuki's numbers a push.
Mahindra & Mahindra, too, looks good for the coming week, on robust sales of its XUV 500 and the newly-launched Quanto. Tata Motors Ltd, which posted a lower-than-expected 10.5% on year growth for Jul-Sep, is still likely to post gains, primarily on its announcement about launch of six new variants in the next few months.
Among the commercial vehicle manufacturers, Eicher Motors looks slightly negative. Hero Motocorp, which posted a dismal quarterly performance with a 27% on year profit drop, is surprisingly riding high, mainly on festive sales. The scrip is seen gaining rising in the coming week.
