Tag: auto

Maruti Suzuki Q2 net profit jumps 333 per cent YoY to Rs 2,061 crore

Maruti Suzuki Q2 net profit jumps 333 per cent YoY to Rs 2,061 crore
Friday, October 28, 2022
The Shares of the country's largest car maker Maruti Suzuki India gained 5 percent and touched 1 year high of Rs 9492.55 today after its net profit jumped by 333 percent to Rs 2061.5 crore in Q2 of FY23 compared to the corresponding period of last year on the back of the resolution of chip supply issues, favorable foreign exchange rates, and highest-ever unit sales. Standalone revenue from operations surged 46 percent YoY to Rs 29,931 crore. The company's market cap is nearly ₹2.87 lakh crore. The company sold a total of 517,395 vehicles during the quarter, the highest ever in any quarter. Sales in the domestic market stood at 454,200 units,” its statement said. Therefore, the company also posted the highest-ever sales revenue of Rs 28,545 crore in Q2 of FY23. Shortage of electronic components impacted production by about 35,000 vehicles during the quarter, the company said. Read more

M&M rallies 5%, hits record high as automaker looks to invest in new EV entity

M&M rallies 5%, hits record high as automaker looks to invest in new EV entity
Friday, July 8, 2022
Shares of Mahindra & Mahindra (M&M) hit a new high of Rs 1,191.90 after they rallied 5 percent on the BSE in Friday's intra-day trade. This comes after the company the automaker inked a pact with the British International Investment (BII) to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major, focusing on four-wheel passenger electric vehicles.BII will invest up to Rs 1,925 crores in the form of compulsory convertible instruments at a valuation of up to Rs. 70,070 crores, resulting in 2.75% to 4.76% ownership for BII in the EV Co.," M&M said in a stock exchange filing. The total capital infusion for the EV Co. is envisaged to be approximately Rs 8,000 crores / $1 billion between FY24 and FY27 for the planned product portfolio. Read more

M&M stock hits all time high on hopes of strong domestic demand

M&M stock hits all time high on hopes of strong domestic demand
Monday, June 27, 2022
Shares of Mahindra & Mahindra hit a new high of Rs 1,095, up 2.3 percent on the BSE in Monday’s trade, and outperformed the market on a strong business outlook. In the past week, the stock rallied 12 percent, With this, M&M has zoomed 63 percent over three and a half months. Earlier, the stock had hit a 52-week low of Rs 671 on March 8, 2022.M&M is a conglomerate with a presence in auto, IT, financial services, logistics, hospitality, and real estate among others. At a standalone level, it is India’s largest tractor manufacturer with around 40 percent market share in FY22 and the second-largest commercial vehicle (CV) maker. The management said the company is witnessing strong bookings and have a robust pipeline. We announced the launch of Scorpio-N, which is generating very high-interest levels and promises to be yet another blockbuster from Mahindra. The company’s commercial vehicles have also registered strong growth across segments. . Read more

Bajaj Auto defers share buyback proposal, stock down 7 percent

Bajaj Auto defers share buyback proposal, stock down 7 percent
Tuesday, June 14, 2022
Shares of India's leading two-and-three-wheeler company Bajaj Auto declined 7 percent to Rs 3,603.75 on the BSE in Tuesday's intra-day trade after the board deferred a decision on the share buyback proposal. The announcement came after the Board of Directors met earlier today,i.e. 14 June 2022 wherein it was decided that further deliberations are required in order to make a decision on the proposal of buyback, and accordingly deferred the matter, Baja Auto informed in a regulatory filing. Over the past four days, the stock of Bajaj Auto gained 5.5 percent after the company, on June 9, 2022, said that its board will consider a buyback proposal on June 14, 2022. If the board would have approved the proposal, this would have been the first share buyback to be made by the two-wheeler major in the last 22 years. Read more

Bajaj Auto Q4 earnings result

Bajaj Auto Q4 earnings result
Thursday, April 28, 2022
Shares of Bajaj Auto dipped over 2 percent in early trade on Thursday after the company reported a 2 percent decline in consolidated net profit for the fourth quarter ended March 2022 as sales in both domestic and export markets were hit by weak demand and semiconductor shortage. The two and three-wheeler makers on April 27 declared a 10.3 percent year-on-year increase in standalone profit after tax (PAT) to Rs 1,469 crore as compared to a profit of Rs 1,332 crore reported in the same quarter a year ago. Domestic and international sales of two-wheelers and commercial vehicles crossed the 4.3 million mark and resulted in a turnover of Rs 34,354 crore in FY22. Total revenue from operations declined to ₹ 7,975 crores during the fourth quarter, as compared with ₹ 8,596 crores in the same period of FY21. The full-year profit for the company has improved 10.2 percent to Rs 5,019 crore from Rs 4,555 crore achieved in FY21. Read more

MARKET UPDATE:Sensex rose 800 points to 56,575, while Nifty jumped 230 points to 16,893 levels in early deals

MARKET UPDATE:Sensex rose 800 points to 56,575, while Nifty jumped 230 points to 16,893 levels in early deals
Wednesday, March 16, 2022
The Indian benchmark indices opened sharply higher today(16th march 2022), with a strong recovery from the previous session's losses. The BSE Sensex rose 800 points to 56,575, while the Nifty 50 jumped 230 points to 16,893 levels in early deals. The strong start for the indices comes amid upbeat global sentiment as US stocks rose significantly overnight and Asian shares were also seen staging recovery from their two-day losses. On the Sensex, HDFC, IndusInd Bank, Axis Bank, Maruti, ICICI Bank, Bajaj twins, HDFC Bank, M&M, Asian Paints, and Wipro were leading the upmove, trading up to 3.5 percent higher. Grasim and Tata Motors were the additional gainers on the Nifty50. Read more

MARKET UPDATE:Sensex rose around 200 points to 56,660, while NSE Nifty at 16,918, higher by 50 points

MARKET UPDATE:Sensex rose around 200 points to 56,660, while NSE Nifty at 16,918, higher by 50 points
Tuesday, March 15, 2022
The Indian benchmark indices started to trade on a higher note extending their strong rally to a sixth session amid a sharp fall in crude oil prices from their record highs. The BSE Sensex rose around 200 points to 56,660, while the NSE Nifty was at 16,918, higher by 50 points. Among the Sensex-30 shares, Asian Paints, M&M, Maruti, Ultractech Cement, Axis Bank, L&T, ICICI Bank, HDFC Bank, and SBI were the top gainers. On the Nifty, Tata Consumer, Cipla, Eicher Motors, and Tata Motors were the additional gainers, up to 2 percent higher. On the downside, Tata Steel, Reliance, Infosys, Kotak Bank, NTPC, Tech M, ONGC, Hindalco, JSW Steel, Indian Oil, and Coal India were the top losers on the bourses, down up to 4 percent. Read more

MARKET UPDATE:BSE Sensex 115 points higher at 61,265, while the NSE Nifty 37 points up at 18,250

MARKET UPDATE:BSE Sensex 115 points higher at 61,265, while the NSE Nifty 37 points up at 18,250
Thursday, January 13, 2022
In the Indian markets, benchmark indices today (13th January 2021)steadily held opening gains in early morning trade. The BSE Sensex was 115 points higher at 61,265, while the NSE Nifty was 37 points up at 18,250. On the Sensex, Tata Steel and PowerGrid were the leading gainers, up 3 percent each, followed by Sun Pharma, NTPC, ITC, L&T, and RIL. On the flip side, Wipro was the biggest loser, down 5 percent, after the company fell short of market expectation, as it’s net profit was up 1.3 percent on a quarter on quarter (QoQ) basis at Rs 2,969 crore for the third quarter ended December 2021 (Q3FY22). READ HERE. HDFC Bank, HCL Tech, M&M, Titan, Asian Paints, Axis Bank, and IndusInd Bank were the other notable losers. Read more

Mahindra & Mahindra gains after September Quarter Profit rises to Rs 1432 crore

Mahindra & Mahindra gains after September Quarter Profit rises to Rs 1432 crore
Tuesday, November 9, 2021
Shares of Mahindra & Mahindra (M&M) gained 5 percent to Rs 905 after the company's Net profit rose 785.15% to Rs 1431.73 crore in the quarter ended September 2021 as against Rs 161.75 crore during the previous quarter ended September 2020 due to a low base but the operating performance was hit by higher input prices. The company's revenue grew 15 percent year-on-year (YoY) to Rs 13,305 crore during the quarter under review, while earnings before interest, tax, depreciation, and amortization (EBITDA) declined 19 percent to Rs 1,660 crore. The company said it sold 99,334 vehicles during the period under review, up 9 percent from 91,536 units in the second quarter of last fiscal. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,929 crore as compared with Rs 615 crore in the Q2 of 2020-21.M&M said its auto business continues to maintain a strong booking pipeline for its key products. Read more

Sensex rises for 3rd day; Nifty Auto, Realty gain;IT tumbled 2.88 per cent

Sensex rises for 3rd day; Nifty Auto, Realty gain;IT tumbled 2.88 per cent
Monday, September 27, 2021
The benchmark indices managed to eke out gains, amid buying in index heavyweight RIL, bank, and auto stocks in a high volatility session. Even as the global market setup remained firm, investors were jittery with the markets hovering at all-time high levels and amid steep valuations. Overall, the BSE Sensex gyrated 525 points and settled the day 29 points higher at 60,078. Meanwhile, the NSE Nifty shut shop at 17,855, up only 2 points. During the day, the BSE Sensex managed to log a fresh record high of 60,412. In the 30-pack index, Maruti, M&M, Bajaj Auto, and NTPC were the top gainers, up between 2-6 percent while HCL Tech, Tech Mahindra, Bajaj Finserv, and Infosys were the top losers, down up to 4 percent. Read more

Market rally would remain broad-based going ahead: Experts

Market rally would remain broad-based going ahead: Experts
Wednesday, September 15, 2021
Markets have been trading sideways ahead of the meetings of the two major global central banks – the US Federal Reserve and the Reserve Bank of India (RBI) – over the next couple of weeks. Market experts expect natural profit-taking to happen with rising markets, but do not see any meaningful correction unless there is a more aggressive taper stance by the US Fed. They are cautiously optimistic on markets for 2021, on surplus global liquidity, and benign interest rates. The US Federal Reserve (US Fed), prior to the pandemic, had an outstanding balance sheet size of $4.2 trillion as of December 2019, which doubled in size to $8.3 trillion. Likewise, the European Central Bank (ECB), which had a pre-pandemic balance sheet size of 4.7 trillion euros also saw a similar proportional increase in size to 8.2 trillion euros. This liquidity is providing support to asset inflation in high-risk asset classes, including emerging equities like India. Read more

Use dips to add auto stocks despite chip shortage concerns

Use dips to add auto stocks despite chip shortage concerns
Wednesday, September 1, 2021
The shortage of semiconductors and chips has hit the Indian automobile sector hard and after Tata Motors, Maruti Suzuki India has slashed output target for September due to a chip shortage. Yesterday (31st August 2021) Maruti Suzuki said that its vehicle production in September will tumble by 60 percent. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 percent. Consequently, shares of the automaker declined 2 percent to Rs 6,700 on the BSE. The ripple effect dented other shares as well with stocks of M&M, Ashok Leyland, and TVS Motors slipping up to 1 percent. Read more

Vehicle scrappage policy, Ola e-scooter: How to trade key auto stocks

Vehicle scrappage policy, Ola e-scooter: How to trade key auto stocks
Monday, August 16, 2021
Last weekend the government notified vehicle scrappage policy and Ola launched its e-scooter. In this backdrop following are the tips for the trading of auto stocks: 1. Maruti Suzuki India The shares of Maruti Suzuki India are trading below both the major moving averages i.e 200-days moving average (DMA) and 200-weekly moving average (WMA) placed at Rs 7,215 and Rs 7,293 levels, respectively. This breakdown shows a negative bias that may lead to bearish sentiment in the days ahead, if crucial support of Rs 6,758 is broken, which is its 100-WMA. The immediate support comes in at Rs 6,900 and then Rs 6,850 levels. Read more

MARKET UPDATE:Sensex up 80 points at 54,600 levels and Nifty hovered around 16,312-mark, up 30 points

MARKET UPDATE:Sensex up 80 points at 54,600 levels and Nifty hovered around 16,312-mark, up 30 points
Thursday, August 12, 2021
Indian equities made a cautious start today(12th July 2021), after a roller-coaster session yesterday, on the back of gains in auto, metal, and PSU bank stocks. The BSE Sensex index was up 80 points at 54,600 levels while the Nifty50 hovered around 16,312-mark, up 30 points. In the broader markets, the BSE MidCap and SmallCap indices were trading higher, up 0.28 percent and 1 percent, respectively. Key companies like Ashok Leyland, Aurobindo Pharma, Eicher Motors, Hero MotoCorp, IRCTC, NMDC, Natco Pharma, Oil India, Page Industries, Power Finance, BPCL, and Tata Steel are slated to post their quarterly earnings today.

Rolex rings lists at 1250 39 percent jump over IPO price

Rolex rings lists at 1250 39 percent jump over IPO price
Monday, August 9, 2021
Auto components maker Rolex Rings based in Gujarat made its stock market debut on Monday with its shares listing at ₹1,250 per share on the NSE, surging nearly 39% premium over its issue price of ₹900 per share. It rallied up to Rs 1,264.95, up 40 percent. Analysts had expected it to debut with a 45-50 percent premium. The Rolex Rings was subscribed a massive 130 times by investors last month. Rolex Rings’ Rs 731 crore IPO was a mix of fresh issues of equity shares worth Rs 56 crore while the remaining Rs 675 crore was an offer for sale (OFS) by existing shareholders. The company's price band was fixed at ₹880-900 per share. The company is one of the top five forging companies in India, in terms of installed capacity The client base of Rolex Rings consists of leading global bearing manufacturers such as SKF, Timken, Schaeffler, NEI & NRB Bearings. Read more

Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses

Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses
Wednesday, June 2, 2021
Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses and helped them end nearly flat for the second straight day. Moreover, a surge in Brent Crude price, which was hovering around $71 per barrel, exerted pressure on the bourses. The frontline S&P BSE Sensex ended at 51,849 levels, down 85 points or 0.16 percent, with ITC (down 3 percent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, which rallied up to 2 percent. On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. The BSE MidCap index, which hit a record peak of 22,164 earlier today, closed 1.7 percent higher at 22,141 levels. Read more

Auto sector problems to continue as downgrades loom under Pandemic

Auto sector problems to continue as downgrades loom under Pandemic
Tuesday, April 27, 2021
Over the past three months, the BSE Auto index has been underperforming the benchmarks amid multiple headwinds, including weak retail, rising commodity prices, and supply disruptions. The auto index, after outperforming the benchmarks for most of FY21, is down about 9 percent, as compared to the 2 percent decline in the Sensex during the last three months. The derating on the one-year forward price to earnings ratio has been higher, about 18 percent since January. Most analysts believe these headwinds will remain in the near term. “Due to the ongoing economic slowdown amid the second wave of Covid, the turbulence (demand woes) the sector is facing for over a month and a half is expected to continue into May, as well. On the other hand, higher commodity prices and other cost inflation would impact operating margins of these companies in the June quarter of FY22 and beyond.” say experts. Read more

RBI extends timeline for auto debit

RBI extends timeline for auto debit
Wednesday, March 31, 2021
The Reserve Bank of India (RBI) on Wednesday extended the deadline for e-mandate for recurring payments of online transactions by six months till September 30, 2021, The deadline was set to expire on March 31. The central bank decided to extend the deadline as the framework is not fully implemented by banks and to prevent any inconvenience to the customers because of lack of preparedness by the system, the RBI said. This comes after banks started informing customers about cancelling the service of e-mandates for auto-debit of funds from cards. Leading private banks have started sending messages to their customers that they will have to transact on their own for services they want to avail, instead of banks deducting the fee automatically on their behalf as banks, as well as other stakeholders, had not readied their systems to comply with the new framework.

Automobile industry records growth for the 7th straight month

Automobile industry records growth for the 7th straight month
Monday, March 1, 2021
In the Indian market passenger vehicle wholesale continued to grow year-on-year for the seventh straight month in February as demand for personal mobility remains strong during the pandemic despite soaring fuel prices. About 308,000 cars and SUVs were dispatched from factories to showrooms during February, a 23% growth over the preceding year, industry data show. Market leader Maruti Suzuki sold 144,700 passenger vehicles during the month, a year-on-year growth of 8%. Its market share improved by 116 basis points over January to 46.9% but was considerably lower than 53.3% achieved in February 2020. Hyundai Motor and Tata Motors sold 51,600 and 27,224 units during the month, growing by 29% and 119% over last year. Read more

Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore

Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore
Thursday, October 22, 2020
Shares of a major two-wheeler Bajaj Auto fell 1 per cent to Rs.2983 after the company reported 18.84 per cent year-on-year (YoY) drop in net profit at Rs 1,138.20 crore for the quarter ended September 30, missing a CNBC-TV18 poll estimates which of Rs 1,212 crore. The auto major had reported Rs 1,402.42 crore profit for the corresponding quarter last year. Total revenue from operations declined 7.16 per cent YoY to Rs 7,155.86 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 0.9 per cent year-on-year to Rs 1,266.2 crore, but margin expanded 110 bps YoY to 17.7 per cent in Q2 FY21. Operating profit of the company inched lower by 1 per cent to Rs 1,233 crore. As on September 30, 2020, the company's surplus cash and cash equivalents stood at Rs 16,240 crore as against Rs 14,232 crore as on June 30, 2020, and Rs 14,322 crore as on March 31, 2020.Bajaj Auto sold 1,053,337 units in Q2FY21, down 10 per cent YoY, against 1,173,591 units in Q2FY20. Read more

Wholesale auto sales make comeback: In July Maruti Suzuki sold 88.2 per cent more than June 2020

Wholesale auto sales make comeback: In July Maruti Suzuki sold 88.2 per cent more than June 2020
Saturday, August 1, 2020
India's largest passenger car manufacturer, Maruti Suzuki, today(1st August 2020) announced that it had sold 108,000 units in July, 88.2 percent more than June 2020. The numbers are dispatch from the manufacturer to their dealers and don’t reflect retail sales. While it is a sign of recovery, Maruti executives said that the numbers primarily indicate that supply-side issues like availability of workforce and raw material supply has largely been addressed

Bajaj Auto Q1 net profit plunges 53 per cent YoY to Rs 528

Bajaj Auto Q1 net profit plunges 53 per cent YoY to Rs 528
Wednesday, July 22, 2020
The Pune based two-wheeler major Bajaj Auto on Wednesday reported a standalone net profit of Rs 528 crore for the April-June quarter of FY21 (Q1FY21), down 53 per cent, from a profit of Rs 1,125.67 crore in the year-ago period, dented by lower volumes but the operating performance was ahead of analysts estimates. Sequentially, the profit tumbled 60 per cent from Rs 1,310.29 crore posted in the March quarter of FY20. Revenue from operations fell 60.3 per cent year-on-year to Rs 3,079.24 crore in the quarter ended June 2020, hit by lower sales volumes. Bajaj Auto said it sold 4,43,103 units during the first quarter against 12,47,174 units in the year-ago period. On a consolidated basis, the net profit was Rs 395.5 crore, down from Rs 1,012.16 crore clocked in Q1FY20. The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) came to Rs 441 crore in the June quarter, while margin came in at 14.3 per cent. Read more

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