The management expects Q3 to be better than Q2 with supply chain visibility being much better
Shares of Atul Auto continued its northward movement and surged 12 per cent to hit 52-week high of Rs 289.55 apiece in Friday's intra-day trade
TVS has seen the highest earnings upgrades among auto makers over the last few months
The fair value growth of the Nifty is expected to be healthy in the long run, driven by a strong economic growth outlook, says Paharia
CARE Ratings reaffirmed ratings on the existing bank facilities of M&M with stable outlook.
Following the development, global brokerage JP Morgan downgraded the stock from 'overweight' to 'neutral' with a September 2023 price target of Rs 455.
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At 10:59 am; TVS Motor Company's market capitalisation stood at Rs 50,312 crore, the BSE data shows.
Ball-bearing maker expects gains on margin front in the second half of FY23
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Till 09:30 am; a combined 126 million equity shares or 21.56 per cent of Sona BLW total equity changed hands on the BSE (92.24 million) and NSE (33.76 million shares), the exchanges data show.
In the financial year 2022-23 (FY23), the BSE Auto index has outperformed the market by surging 26 per cent
Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds.
The company's net profit soared 157.5 per cent YoY to Rs 610.66 crore in Q1FY23, while total income surged 64.4 per cent to Rs 3,446.12 crore.
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The bullishness stems from a positive long-term outlook for automakers
In the past three months, the stock of TVS Motor outperformed the market as it surged 46 per cent, as compared to marginal 0.34 per cent rise in the S&P BSE Sensex.
The demand for MHCV Trucks is expected to increase, driven by pickup in fleet utilization levels and supported by replacement demand in-line with recovery in economic activity and government spending.
Bajaj Auto Q1 review: Auto major Bajaj Auto clocked 8.3 per cent rise year-on-year (YoY) in total revenue from operations to Rs 8,004.97 crore in June quarter results (Q1FY23) on a standalone basis.
Analysts, on average, expect the revenue to fall up to 7 per cent quarter-on-quarter (QoQ) to Rs 7,416 crore in Q1FY23.