Auto stocks will be watched after April sales outcome

Maruti Suzuki India reported a 14.4% increase in total sales at 1,72,986 units in April 2018 against 1,51,215 units in April 2017. The company's domestic sales stood at 1,64,978 units, up 14.2% from 1,44,492 units in April last year, the company said in a statement. The announcement was made on 1 May 2018.

Tata Motors registered a growth of 86% at 53,511 units in April 2018 as against 28,844 units in April 2017 due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market. The announcement was made on 1 May 2018.

Mahindra & Mahindra (M&M) reported a 22% growth in its auto sales at 48,097 vehicles in in April 2018 against 39,417 vehicles during April 2017. The announcement was made on 1 May 2018.

In a separate announcement on 1 May 2018, M&M said it will acquire up to 10% equity in Canada's Resson Aerospace Corp for about Rs 34.50 crore. The consideration would be paid in cash.

Eicher Motors said its motorcycles sales jumped 27% at 76,187 units in April 2018 over April 2017. The announcement was made on 1 May 2018.

TVS Motor Company registered a sales growth of 24% to 304,795 units in April 2018 over April 2017. The announcement was made on 1 May 2018.

Larsen & Toubro (L&T) signed definitive agreements with Schneider Electric, a global player in energy management and automation for strategic divestment of L&T's Electrical and Automation (E&A) business for an all-cash consideration of Rs 14000 crore. The announcement was made on 1 May 2018.

L&T's E&A business offers a wide range of low and medium voltage switchgear, electrical systems, marine switchgear, industrial and building automation solutions, energy management systems and metering solutions. The E&A business reported net revenue of Rs 5038 crore during FY 2016-2017.

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