Auto Shares Decline As Govt Proposes Green Tax On Old Vehicles

Wednesday, 27 January 2021, 08:24:12
On Wednesday, shares of automobile companies, including tyres and auto ancillaries companies, declined as investors booked profit after the government proposed the introduction of ‘green tax' on old vehicles. Shares of Ashok Leyland, Bharat Forge and Tata Motors declined in the
— Goodreturns

Interested in auto sector? Go for these 3 stocks

Wednesday, 27 January 2021, 07:20:04
The monthly numbers and the positivity in management commentary for companies which have announced results give confidence that the overall growth is continuing in the auto sector, says Hemang Jani, Equity Strategist & Senior Group VP, MOFSL.Is the resurgence in the auto sector across categories and not just in CVs but also two-wheeler majors, passenger vehicles, tyres as well as battery makers?We have enough triggers in terms of the kind of performances that some of the tyre companies have reported. The kind of outlook we are looking at in terms of volume growth and the margin picture definitely bodes well for companies like Ceat and Apollo and maybe some other tyre companies also. At the same time we are seeing that the green tax by itself may not have a material impact for some of the names like Ashok Leyland or some of the CV companies. But if a scrappage policy comes through, then it can revive the interest for companies like Ashok Leyland and Tata Motors because this has been a big trigger that the market was looking at and overall in terms of growth monthly numbers continue to show good traction.
— Economic Times India

Indices Open Lower; Nifty Below 14200; Tata Motors Top Loser

Wednesday, 27 January 2021, 04:55:59
At the start, Indian indices opened weak by as much as 0.47% on the Sensex at 48120, while Nifty was also dragged by the same scale to 14178. This is even as the IMF gave a robust growth forecast. {image-1fd6cda6d99d7f62e6ef21cf51b911fa1-1605925176.jpg
— Goodreturns

Wheel of change: Luxury carmakers eye 25-40% sales growth in 2021

Monday, 25 January 2021, 22:34:11
Mumbai | New Delhi: This is a V-shaped recovery with a set of pricey wheels and powered by a top class engine — luxury carmakers in the country are betting on 25-40% growth in sales this calendar year, driven by more than one car hitting the road every week on an average.Makers of super expensive cars have lined up about 70 launches including all-new models, facelifts and variants this year, almost double the launch number of Covid-hit 2020. Industry expects the luxury car market to record a sale of 28,000-30,000 units in 2021 compared with 20,000-21,000 units last year, provided the supply chain issues do not disrupt production. Although up from 2020, such 2021 sales figures would still be well short of 2018’s 41,000 units and that of 33,000 units in 2019.The loudest vroom will come from BMW, which plans 25 launches this year, followed by market leader Mercedes Benz with 15 new products planned and Jaguar Land Rover with 10. Audi and Volvo have lined up seven and five new launches, respectively, while another 6-8 launches will be made by sports car and super luxury carmakers such as Porsche, Lamborghini, Ferrari and Rolls Royce.Mercedes Benz India managing director Martin Schwenk said the industry will get back to a normal growth track in 2021-2022 with the customer base increasing due to a growing Indian economy.80460873‘Market Outlook Looks Positive’“We expect to grow by over 40% for the next two years,” Schwenk told ET. “There is a generally positive market outlook.
— Economic Times India

Market Movers: Grasim paints green on charts as RIL tumbles post earnings

Monday, 25 January 2021, 13:37:07
As many as 55 stocks listed on the NSE gave a “sell” signal based on MACD indicators. The list included Tata Motors, Vodafone Idea, DLF, and Lupin.
— Economic Times India