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 sales entered fast lane in October as a trinity of pent-up demand, on-set of festive season, and preference for personal mobility nudged people to splurge in vehicle buying. That said, slow economic recovery and the consequent hit on income led to skewed sales.

Consider this. Maruti Suzuki India, the country’s largest passenger carmaker, which sold 163,656 units in the domestic market in October, up 18 per cent YoY, saw growth being driven primarily by the entry-level segment. Add to it, two-wheeler maker Hero MotoCorp clocked record sales of 8.06 lakh units during the month on the back of buying