Atul Auto November sales decline by 16% YoY

Atul Auto sold 1,344 auto units in November 2021, which is lower by 16.05% as compared with 1,601 auto units sold in November 2020.

The company's auto sales have de-grown by 37.23% as compared with 2,141 units sold in October 2021.

Rajkot-based Atul Auto manufactures three-wheelers (goods as well as passenger segments) under the 'Atul' brand, and spares, components, and allied products.

The company reported a consolidated net loss of Rs 4.19 crore in the quarter ended September 2021 as against net profit of Rs 2.07 crore during the previous quarter ended September 2020. Net sales rose 10.73% YoY to Rs 83.20 crore in Q2 FY22.

The scrip was currently trading 0.92% lower at Rs 209.45 on the BSE.

In the past one month, the stock has declined 19.98% while the benchmark Sensex has fallen 3.26% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 38.577. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day and 100-day simple moving average (SMA) placed at 227.22 and 216.09, respectively. It has, however, managed to hold above its 200-day SMA placed at 200.53.

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