Bajaj Auto, 360 One Wam, Hexaware Technologies, Akzo Nobel India stocks are seen trading above the SuperTrend line indicator on the daily charts.
Tata Motors will likely maintain its dominant share of India's CV market, with support from India's economic growth, and favorable infrastructure and construction spending.
Thus far in the month of November, the Nifty Auto index has outperformed the market by gaining 3.3 per cent, as against 1.5 per cent rise in the Nifty 50.
Bajaj Auto Ltd, which made its foray into the e-rickshaw segment with Riki this year, plans to increase its presence in 200 cities by January to March next year, according to a senior company official. The company, which started a pilot test of Riki with four cities, has now scaled up its presence to eight at present as part of phase I, Bajaj Auto Executive Director Rakesh Sharma told PTI. "We've launched it in four cities, now it has become eight cities, including Patna, Moradabad, Guwahati, and Raipur... We are right now in phase one, where for another month or so we will be observing it as to what is the feedback from the customers, and what should be the communication and promotion strategy," Sharma said when asked about pan-India expansion plans for the Riki. After that, he said, "In the January, February, March period, we will scale up our presence from eight to 200 cities and towns. Once we see the traction there, then we will start to get into numbers and what kind of volume