Maruti Suzuki, Hero MotoCorp, TVS Motor: How auto stocks are faring after the release of March sales numbers

March auto sales numbers: Auto stocks such as TVS Motor Company, Hero MotoCorp, Ashok Leyland, and Maruti Suzuki were trading mixed in the morning deals on BSE on Tuesday (April 2, 2024) after the companies reported mixed March sales results on Monday.

While Ashok Leyland was up, TVS Motor, Hero MotoCorp, and Maruti Suzuki were trading in red.

They were trading mixed on a day when Nifty Auto was trading up by 0.50 per cent, or 106.20 points, at 21,491.45 points at 11:08 am on Tuesday.

In this write-up, know the sales numbers of the prominent auto companies and how their stocks are reacting to the development.

TVS Motor share price and March sales results

TVS Motor slipped by 1.95 per cent to the day's low of Rs 2,118.30 after opening at Rs 2,160.40 on Tuesday.

The stock of the company was down by 0.34 per cent, or Rs 7.25, at Rs 2,132.85 at 9:30 am on Tuesday.

TVS Motors' March sales grew by 12 per cent from 31,7152 to 35,4592, but they were below Zee Business research estimates of 367,500.

The company's exports grew by 23 per cent to 75,037.

TVS Motor, however, achieved the highest EV retails in March. 

Hero MotoCorp share price and March sales results

After closing at Rs 4,683.30 on Monday, the stock started its journey on Tuesday at Rs 4,631.85 and reached the day's high of Rs 4,682.00.

The stock was down by 0.48 per cent, or Rs 22.45, at Rs 4,660.85.

Hero MotoCorp also reported below-estimated numbers as its sales went down by six per cent from 519,342 to 490,415 in March. 

The research team had estimated its sales at 540,000 units.

The company's exports in March, however, skyrocketed by 88 per cent from 16,612 to 31,158. 

Hero MotoCorp expects double-digit revenue growth in FY25. 

It has announced a strategic plan to commence operations in Europe and the UK in FY25. 

Ashok Leyland share price and March sales results

Ashok Leyland saw a slight jump in its stock in the morning session as it went up by 1.08 per cent to touch the day's high of Rs 176.55 on Tuesday after closing at Rs 174.65 a day before.

The stock that opened at Rs 175.35 on Tuesday was trading higher by 0.74 per cent, or Rs 1.30, at Rs 175.95.

The company's sales numbers in March slipped by four per cent to 22,866 from 23,926 against research estimates of 21,100. 
 

Maruti Suzuki share price and March sales results

Despite reporting good March sales numbers, Maruti Suzuki slipped by 0.56 per cent to the day's low of Rs 12,499.35 on Tuesday after closing at Rs 12,570.30 a day before.

The stock that opened at Rs 12,601.15 on Tuesday was trading lower by 0.19 per cent, or Rs 24.05, at Rs 12,546.25 in the morning session.

Maruti Suzuki sales in March saw a jump of 8.16 per cent year-on-year (YoY) to 1.67 lakh units.

Its private vehicle sales, meanwhile, jumped by 8.30 per cent to 1.63 lakh units YoY.

After the automaker reported its March sales results, a report said that the company had recorded strong sales of personal vehicles (PVs) in the SUV segment this year.

While urban sales jumped by seven per cent, Maruti Suzuki's rural area sales saw a rise of 11 per cent. 

The company hasn't taken any decisions on increasing car prices.