Tata Motors, Hero MotoCorp, TVS Motor, Eicher Motors: Where auto stocks are heading after automakers announce June sales numbers
Tata Motors domestic private vehicle sales were down by eight per cent to 43,524 in June from 47,235 Down year-on-year (YoY), against the estimates of 48,247. Its total commercial sales were also down by seven per cent to 31,980 in June from 34,314 YoY, against estimates of 32,315.
Auto stocks such as Tata Motors, Hero MotoCorp, TVS Motor, and Eicher Motors are trading mixed bags on BSE on Tuesday (July 2, 2024) after the automakers announced their June sales numbers a day ago.
While Tata Motors, TVS Motor Company, and Eicher Motors reported below-estimate numbers, Hero MotoCrop beat Zee Business research estimates in its June vehicle sales. Here's how auto stocks are trading on BSE today.
Tata Motors share price
After clocking below research estimate June numbers, the Tata Motors stock, which closed at Rs 1,001.65, a day ago, slipped by 1.59 per cent to Tuesday's low of Rs 985.70.
The stock that started the session at Rs 1,005.05 closed trading lower by 2.07 per cent, or Rs 20.70, at Rs 980.95 on Tuesday.
Tata Motors' domestic private vehicle sales were down by eight per cent to 43,524 in June from 47,235 Down year-on-year (YoY), against the estimates of 48,247.
Its total commercial sales were also down by seven per cent to 31,980 in June from 34,314 YoY, against estimates of 32,315.
Hero MotoCorp share price
Among two wheeler companies, Hero Moto Corp, which closed the trading session at Rs 5,602.25 a day ago, opened at Rs 5,698.50, a 1.71 per cent rise, which is also its Tuesday's high.
The Hero MotoCorp stock closed the trading session on Tuesday down by 0.86 per cent, or Rs 48.00, at Rs 5,524.
Hero MotoCorp beat analyst estimates as its total sales soared by 15 per cent to 5,03,448 in June against 4,36,993 YoY, against estimates of 4,45,733.
TVS Motor Company share price
After closing the previous session at Rs 2,354.45 a day ago, the stock of TVS Motor Company slipped by 1.63 per cent to Tuesday's low of Rs 2,316.00.
The stock cloed trading on Tuesday lower by 0.66 per cent, or Rs 15.50, at Rs 2,338.95.
TVS Motor Company also reported below estimate sales numbers as they were up by five per cent to 3,33,646 in June versus 3,16,411 YoY, against research estimates of 3,45,731.
Eicher Motors share price
After closing at Rs 4,636.50 a day ago, the stock of Eicher Motors rose by 1.32 per cent to Tuesday's high of Rs 4,697.80.
The stock that opened the trading session on Tuesday at Rs 4,640.00, closed it flat at Rs 4,637.20.
Eicher Motors' product Royal Enfield also clocked below Zee Business research estimate sales results as its number slipped by five per cent to 73,141 in June compared to 77,109 YoY, against the estimates of 75,567.
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