Auto stocks in focus; Maruti Suzuki, Tata Motors report mixed set of monthly sales
Automobile stocks will be in focus on Monday amid a mixed set of sales reports from top manufacturers.
Maruti Suzuki, Tata Motors, Hero MotoCorp, Eicher Motors and other auto stock staged mixed moves on Dalal Street on Monday, mirroring a mixed bag of sales numbers in June 2023. Maruti Suzuki and Hero MotoCorp shares traded around half a per cent lower each in early deals, while Tata Motors, Eicher Motors and TVS Motor and Mahindra & Mahindra registered gains to the tune of 1-3 per cent.
Over the weekend, Maruti Suzuki reported a two per cent increase in total sales to 1,59,418 units in June, missing analysts' estimates. Tata Motors reported a better-than-expected five per cent increase in domestic passenger vehicle sales to 47,235 units, but a worse-than-estimated eight per cent fall in total commercial vehicle sales to 34,314 units.
Here's a summary of the monthly sales numbers released so far:
Company | Particular | June 2023 | YoY change | Zee Business estimate |
Maruti Suzuki | Total sales | 1,59,418 | +2% | 1,68,000 |
Tata Motors | Domestic PV sales | 47,235 | +5% | 45,000 |
Hero MotoCorp | Total sales | 4,36,993 | -10% | 5,00,000 |
Royal Enfield (Eicher Motors) | Total sales | 77,109 | +26% | 77,000 |
Escorts | Total tractor sales | 9,850 | -2% | 10,040 |
The Nifty Auto — whose 15 components include Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hero MotoCorp, TVS, Ashok Leylend, Eicher Motors and MRF — gained as much as 0.8 per cent to a 52-week high of 15,272.5 amid record highs in headline indices backed by buying across sectors.
(This story will be updated shortly)
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09:41 AM IST