Page 2 - Auto Ancillary

Amara Raja Q2 profit up 13% to Rs 226 cr as demand offsets higher costs

BENGALURU (Reuters) - India's Amara Raja Energy & Mobility on Tuesday reported a jump in second-quarter profit, as improved demand for its products helped offset higher expenses.

Auto component makers stepping up investments in green mobility business

In FY23, e-two-wheeler (E2W) penetration jumped to 4.5 per cent from 1.9 per cent in FY22, data released by the Federation of Automobile Dealers Associations shows

Sundaram Fasteners registers Rs 5,000 crore consolidated revenue in FY23

Auto-components manufacturer Sundaram Fasteners on Friday announced crossing consolidated revenue of Rs 5,000 crore and a net profit of Rs 500 crore for the financial year ended March 31, 2023. Its domestic and overseas subsidiaries have registered a good performance during the year, the company said in a release. "The company's consolidated revenue from operations posted for the year ended March 31, 2023 was at Rs 5,662.75 crore as against Rs 4,902.06 crore during the same period in the previous year, recording a growth of 15.52 per cent," it said. Similarly, the consolidated net profit for the year was Rs 500.35 crore, as against Rs 461.83 crore recorded during the same period in the previous year. Domestic sales recorded a 22.95 per cent growth on the back of increased demand. "Despite the headwinds in global markets, the export sales for the year ended March 31, 2023 were at Rs 1,528.95 crore as against Rs 1,421.09 crores during the previous year," the company added. The comp

Tyre stocks on a roll; Apollo Tyres hits record high, Ceat 52-week high

The raw material (RM) and other input costs have started softening after a long spell of unprecedented increase, which is likely to improve margins in the medium term for tyre companies

Lumax Ind freezes at 20% upper circuit on strong Q2 results, capex plan

The board has approved the company's plan to set up new manufacturing unit in Chakan, Pune to cater to the orders received from OEMs

Atul Auto soars 14%; board issues 5 mn warrants to ace investor Vijay Kedia

The board approved issuance of up to 5.81 mn convertible warrants at Rs 198 per share to promoters and non-promoters including ace investor Vijay Kedia

Are auto ancillaries a favorable bet as commodity costs ease?

While majority of auto ancillary companies reported a margin squeeze in the June-quarter of FY23, analysts expect turnaround from the second half of the year as commodity prices ease. Here's a report

Auto ancillary sector's FY23 revenue expected to grow at 10-15% YoY

Domestic auto ancillary sector's revenue is expected to grow at 10-15 per cent year-on-year (YoY) in FY23.

Auto ancillary stocks in radar on hopes of fresh demand from OEMs

Shares of companies dealing in auto ancillaries have seen a firm uptick recently as their business outlook seems to have turned bright on hopes of rapid adoption of electric vehicles.

Minda Corp, Pricol: These auto ancillary stocks may be the next big movers

Auto ancillary stocks may jump up to 15 per cent in upcoming sessions

Near-term volume, margin headwinds for Motherson Sumi

Supply disruptions have led to downward revision of earnings estimates for FY22

Sona BLW surges 18% on strong Q1 results, healthy order book position

In Q1FY22, Ebitda margin improved to 27.7 per cent from 19 per cent in Q1FY21 due to better product mix and operating leverage

Rolex Rings makes strong debut, lists at 39% premium over issue price

Rolex Rings listed at Rs 1,250 as against issue price of Rs 900 per share on the NSE

Export demand firm for BIL, depreciating rupee to add to revenue growth

While growth momentum has been strong, what has helped the company perform better than peers in the June quarter is its reliance on overseas markets

Strong recovery likely to continue for auto ancillary companies

Good export demand, likely Q2 uptick, low interest rates are positive

JK Tyre, Exide: Analysts advise staying selective in auto ancillary space

The market has been quick to spot the opportunity. Over the past few sessions, tyre stocks have been on a roll with JK Tyre, Ceat, MRF logging smart gains at the bourses

Auto ancillary sector's revenue may fall 16-20% this fiscal: India Ratings

The auto ancillary sector's revenue is expected to shrink 16-20% in the current financial year, with both domestic market as well as exports likely to see dip in demand, according to India Ratings

Mid- and small-cap auto and ancillary stocks charge ahead on new Sebi norms

Besides the so-called technical factor, analyst also attribute the current rally to an attractive valuation, prompting investors to buy these stocks

Are auto ancillary stocks worth your money? Here's what experts say

The prevailing liquidity crunch, especially in the NBFC space, has had a serious impact on the automobile demand, which has also been under pressure due to the rise in insurance and fuel costs.

Auto ancillary shares hit 52-week high on good Q2 results

LG Balakrishnan, Jay Bharat Maruti, Harita Seating, Triton Valves,JBM Auto and ZF Steering were up 5%-19% on BSE.