Hero MotoCorp, TVS Motor, Eicher Motors, Ashok Leyland: How auto stocks are faring after reporting January sales numbers

Auto Stocks: Hero MotoCorp hit an all-time high; TVS Motor was up, while Eicher Motor and Ashok Leyland stocks traded down on BSE on Friday (February 2, 2024) after January auto numbers of these auto companies were revealed a day ago.

Despite reporting below Zee Business research estimate numbers for the month of January, the stock of Hero MotoCorp hit an all-time high of Rs 4718.15. 

Here, we take you through January auto numbers and performance of auto company stocks. 

Hero MotoCorp 

The two-wheeler automaker reported less than estimate January sales numbers, but those were up by 22 per cent to 4.33 lakh from 3.57 lakh in December.

Zee Business research had estimated the numbers to be 4.8 lakh. The stock of the company was trading up by 2.60 per cent, or Rs 119.10, at Rs 4706.00 at 10:06 am.    

TVS Motor 

The stock of the large-cap auto firm is also trading in positive territory as it was up by 1.24 per cent, or Rs 24.70, at Rs 2021.65.

The auto firm reported below-estimate January sales numbers, but its two-wheeler sales were up by 25 per cent to 3.3 lakh from 2.6 lakh, below analysts' estimates of 3.3 lakh.

The company's total sales also saw a jump of 23 per cent to 3.4 lakh from 2.75 lakh against the estimates of 3.46 lakh.
 

Eicher Motors

Eicher Motors is trading below 2 per cent despite reporting above research-estimate numbers in January.  

The January sales of its marquee- Royal Enfield- jumped by two per cent to 76187 from 74746, which was above analysts' estimates of 74000. 

The stock of the company was down by 2.07 per cent, or Rs 81.25, at Rs 3852.00.

Ashok Leyland 

The auto company also hit below-estimate commercial vehicles sales numbers in January. Ashok Leyland's commercial vehicle sales were down by seven per cent to 15939 from 17200 against research estimates of 16800.

The stock of the company was down by 0.23 per cent, or Rs 0.40, at Rs 174.35.