Budget 2020

Major auto cos log subdued sales in April amid COVID-19

However, Mahindra & Mahindra along with Honda Cars India posted sequential growth in their passenger vehicle sales last month. Major automobile manufacturers Maruti Suzuki, Hyundai Motor, Tata Motors and Kia on Saturday reported a decline in passenger vehicle sales in April compared to March this year as the second wave of the coronavirus pandemic hit […]

Budget 2020

Niraj Bajaj named Bajaj Auto Chairman; Rahul Bajaj to be Chairman Emeritus

This will be taken up at the ensuing annual general meeting for the approval of the shareholders. Bajaj Auto has announced the appointment of Neeraj Bajaj as its new Chairman of the Board with effect from May 1, 2021. The auto maker has also announced Rahul Bajaj as its Chairman Emeritus. “Rahul Bajaj, Non-executive Chairman […]

Budget 2020

Auto sales fell 13.6% in year, grew 77% in March

Even though total domestic vehicle sales grew almost 77% in March — albeit on a lower base — on an annual basis wholesales fell 13.6% to about 1.86 crore units in FY21, data from Society of Indian Automobile Manufacturers (SIAM) showed. Passenger vehicle wholesales more than doubled in March 2021 to over 2.9 lakh units, […]

Budget 2020

Stock market update: Nifty Auto index climbs 2%; Tata Motors jumps 5%

NEW DELHI: Nifty Auto index was trading higher at 02:01PM (IST) on Friday. Shares of Tata Motors (up 5.27 per cent), Ashok Leyland (up 4.74 per cent), Bharat Forge (up 3.83 per cent), Balkrishna Industries (up 3.46 per cent) and Bajaj Auto (up 2.97 per cent) were among the top gainers. While Amara Raja Batteries […]

Budget 2020

Pick up IT & auto stocks if market falls 5-10%: Deepak Shenoy

I would avoid FMCG and a lot of the pharma pack but pick up IT and auto and auto ancillaries if they were to come down another 5% or 10%, says Deepak Shenoy, Founder, Capital Mind. How are you advising clients to play the volatility in the markets?To be fair, there is a small correction […]

Budget 2020

Stock market update: Nifty Auto index sheds over 2%; Mahindra & Mahindra tanks 5%

NEW DELHI: Nifty Auto index was trading on a negative note at 02:18PM (IST) on Monday. Shares of Mahindra & Mahindra (down 5.03 per cent), Bosch (down 3.62 per cent), Eicher Motors (down 2.96 per cent), Bharat Forge (down 2.89 per cent) and TVS Motor Company (down 2.86 per cent) were the top losers in […]

Budget 2020

Brokerages increase Bajaj Auto target price after Q3 results

Mumbai: Analysts have raised price targets on Bajaj Auto after the company reported a 23% year-on-year rise in profit to a record Rs 1,556 crore for the December quarter. Shares of Bajaj Auto ended up 10.45% on the back of strong result and target price upgrades. HSBC maintained a buy and raised target price to […]

Budget 2020

Time to buy metal, financial and auto stocks on dips

If the correction continues, I would like to buy into the metal stocks like Hindustan Zinc and Vedanta at lower price points, says Deven R Choksey, MD, KR Choksey Investment Managers. What is your take on the cement counter?Cement companies have started utilising their capacities at a threshold level which is above 85% capacity utilisation. […]