With the economy picking up, the management expects the demand for motorcycles and scooters to see a positive turnaround in the coming months.
The company believes that the divestment is part of company's strategy to align its resources with the high value and high growth primary markets in China, India, and two-wheeler sector globally.
Analysts anticipate revenue growth of 10-11 per cent YoY driven by price hikes taken over the last few quarters, including two rounds of price hikes taken this year to offset input cost rise.
Analysts expect revenue to decline by 11-12 per cent year-on-year (YoY) in Q4, marked by decline in volumes and surge in average selling price due to steep price hikes taken over the last few quarters
In Q1, standalone EBITDA margin improved 310 basis points (bps) to 15.5 per cent from 12 per cent in Q4.
Analysts expect strong volume outlook on the back of a robust order book in autos and new product launches across segments.
AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.
At 10:40 am; barring the Nifty PSU index which gained nearly a per cent, most of the other sectoral indices such as Nifty Bank, Financial Services, Auto and Realty were more or less unmoved.
Analysts attribute the poor showing by FMCG and auto stocks to a combination of demand slowdown and rising input costs
The Nifty Auto index and the key stocks are trading near significant resistance levels while exhibiting sideways movement, upside breakout could see significant long additions.
Auto stocks too could be in limelight as the government shortlisted 75 firms under its PLI scheme for the sector.
The Nifty Auto index has broken key support levels, and looks weak on the weekly charts indicating a downside of 5 per cent.
Auto shares are likely to be in focus as car makers are looking to ramp up production by an average 18-20 per cent in the March quarter, as the shortage of semiconductor eases.
The Nifty Auto index can rally towards the 12,500-mark on a breakout above 11,900-level; base support seen around the 11,000-mark.
The data from Indian Mutual Fund Tracker by Motilal Oswal shows that in January, six of the top 10 stocks that saw the maximum increase in value were ICICI Bank, Axis Bank and SBI
Adani Wilmar, Coal India, Dish Tv, Eicher Motors, Grasim, Medplus Health, MTNL, Nagarjuna Fertilizers, PC Jeweller, Railtel, Rajesh Exports, Spandana Sphoorty and SpiceJet to announce results today.
At 10:31 am; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Realty indices were up 1 per cent, against a 0.5 per cent gain in the benchmark Nifty50 index
At 10:42 am; Nifty Auto index, the top gainer among sectoral indices, was up 1.6 per cent, as compared to 0.39 per cent decline in the Nifty50 index.
This acquisition furthers TVS Motor's commitment towards e-personal mobility products, the company said.
Budget 2022 can spark much awaited upside in the EV related stocks