The stock has rallied nearly 20% in the past one month on expectation of a strong pick-up in demand on the back of upcoming new launches
Shares of TVS Motor and Eicher Motors have rallied up to 20 per cent each in the last one month as against a 6 per cent rise on the Sensex.
Analysts expect 2Ws to reflect strong volumes in Q2FY23 amid strong pent-up demand, and improved mobility in June quarter 2022 (Q1FY23)
Hero MotoCorp, Bajaj Auto and Eicher Motors need to cross their significant hurdles with aggressive volume for further gains to emerge.
CLOSING BELL: Reliance Industries (RIL) was the biggest contributor, accounting for over 65 per cent of today's gains, as its shares surged 3.6 per cent
Semiconductor shortage and high commodity prices dent margins
In addition to volume growth, margin gains hinge on raw material/freight cost movement
Company had 'stellar performance' in international markets with more than 100% growth, says managing director
CLOSING BELL: SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender's Q4 missed Street's estimates
Mid-sized motorcycle maker Royal Enfield had reported sales of 53,298 units in the same month last year
Auto stocks too could be in limelight as the government shortlisted 75 firms under its PLI scheme for the sector.
The new bike is powered by a 411 cc, 4-stroke single-cylinder engine which has a maximum power of 24.3 bhp at 6,500 rpm and max torque of 32 Nm at 4,000-4,500 rpm
Closing Bell: The benchmarks were bogged down by Maruti Suzuki, Dr Reddy's Labs, Bajaj Auto, Hero MotoCorp, ICICI Bank, HDFC twins, Eicher Motors, and Sun Pharma
Some troops in Russia's military districts adjacent to Ukraine are returning to their bases after completing drills, Russia's defence ministry was quoted as saying
The company's management is optimistic that supply chain constraints will gradually ease out over the next two quarters and production to stabilise over time.
The company had posted a consolidated net profit of Rs 532.59 crore in the December quarter of 2020-21
The NSE Nifty50, on the other hand, breached below the 16,850-mark to end 532 points, or 3.06 per cent, lower at 16,843. This was the indices biggest intra-day fall since November 26, 2021
According to Mehul Kothari of Anand Rathi, traders can buy Avenue Supermarts near the 4,150-mark with a stop loss of 3,950 for upside target of 4,550 in 3-5 weeks.
Mid-sized motorcycle maker Royal Enfield, a part of Eicher Motors, reported a 15 per cent decline in total wholesales at 58,838 units in January this year.
The gains came even as India's manufacturing activity lost some momentum in December, with the Manufacturing PMI easing to a three-month low of 55.5