Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Good sowing of kharif crops, better minimum support prices, and fewer Covid-19 cases (in villages) will help the rural growth story to continue, says Maruti.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
Hybrids have helped Maruti acquire leadership in SUVs, a segment that was never its forte. Toyota has also risen with the hybrid tide to clock its highest-ever annual sales in 2023.
At a time when new car sales are witnessing record decline in India, pre-owned vehicles are likely to witness 10 per cent growth in sales to touch 4.4 million units in 2019 with millennials emerging as major buyers, according to a report by consumer-to-consumer marketplace OLX.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. NSE Nifty surged 157.90 points to 17,234.15.
The industry is engaged in a dialogue with the Government of India on policy measures which could minimise the impact of COVID-19 on the Indian economy and especially the domestic automobile industry.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Amid a rush of sport utility vehicle sales, Volkswagen is betting on its premium mid-sized sedan - the Virtus - to gain market share in India. The Volkswagen Virtus is the second product under the India 2.0 project being developed on the MQB-A0 IN platform, with up to 95 per cent localisation levels. In February, the company registered an 84 per cent year-on-year growth in sales, primarily driving on the Taigun it launched last year.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
Automobile dealers' body FADA on Thursday said passenger vehicle (PV) retail sales in March witnessed a year-on-year growth of 28.39 per cent to 279,745 units, as compared to the year-ago period which saw disruptions in the market due to COVID-19 led lockdown. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,277 out of the 1,482 regional transport offices (RTOs), PV sales stood at 217,879 units in March 2020. Two-wheeler sales, however, declined 35.26 per cent to 11,95,445 units last month, as compared to 18,46,613 units in March 2020. Commercial vehicle sales also declined 42.2 per cent to 67,372 units, as against 116,559 units a year ago.
Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
Amidst healthy demand, there are apprehensions of possible hike in excise duty, and hence the player seeks excise duties to be retained at current levels
The auto component sector grew at 5-6 per cent last year against a 13 per cent growth in 2012.
The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam, where the big names of the car industry - Hyundai Motor India, Renault-Nissan India, Daimler India Commercial Vehicles, Apollo Tyres, and Royal Enfield - are based.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
The increase in PV sales in September was driven by festive season purchases, with SUV models like Maruti Suzuki's Brezza, Hyundai Creta, Mahindra Scorpio, Ford Ecosport and Honda W-RV witnessing good traction
The country's largest carmaker Maruti Suzuki India (MSI) on Thursday reported a 30.8 per cent increase in total sales at 1,60,442 units in September. The company had sold 1,22,640 units in September last year, MSI said in a statement.
DaimlerChrysler AG aims to buy auto parts worth over Rs 500 crore (Rs 5 billion) from India during the next two years, a top official of its local unit said.
The electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
Maruti's exports in May were down 2.4% at 9,089 units
Passenger vehicle wholesales in India slipped to a 10-year low in the April-December this fiscal, and the industry will have to work hard to regain better volumes and business health, industry body SIAM said on Thursday.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
After a brief lull during the pandemic, there is a strong revival in luxury car sales, bolstered by more launches across price bands, replacement demand, ban on old diesel vehicles in the NCR, and 'revenge buying'.
The market capitalisation of BSE-listed firms reached an all-time high of Rs 288.50 lakh crore on Wednesday amid an ongoing rally in equities, as the benchmark Sensex settled above 63,000-level for the first time ever. The 30-share BSE barometer climbed 417.81 points or 0.67 per cent to settle at 63,099.65, its fresh record closing high. During the day, the benchmark jumped 621.17 points or 0.99 per cent to 63,303.01, its lifetime intra-day peak. Extending its winning momentum to seventh day, the Sensex has rallied 1,954.81 points or 3.19 per cent during this time.
Net sales growth for the quarter ended December (Q3FY20) was 4.5 per cent on a year-on-year (YoY) basis for companies that have declared their results so far, compared to an 8.4 per cent rise in the first half of the financial year. This indicates that there could be a further rise in days' sales of inventory.
The Indian auto industry is thriving on the consumers' tendency to upgrade as a new study claims that nearly two-thirds of the new cars are purchased by people who had previously owned a car, while one fourth of them previously riding two-wheelers.
General Motors HAS appointed Arvind Saxena, former Managing Director of Volkswagen Passenger Cars India, as the President & Managing Director of its Indian unit.
Led by strong growth in its luxury sedan Chevrolet Optra, auto major General Motors India on Tuesday reported a 123.5 per cent growth in car sales in June 2004 to 2,418 units from 1,082 units in the same month last year.
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
Demand for passenger vehicles has been driven by new models, especially in the SUV category with the likes of Maruti Vitara Brezza and Hyundai Creta clocking good numbers
Analysts tracking listed companies like Hero Honda, Bajaj Auto and TVS Motors have said sales forecast for the two-wheeler industry for the next few months looks very bleak as spiralling input costs, high lending rates and reducing availability of finance will put brakes on sales growth. ICICI Bank's has already withdrawn from advancing loans at two-wheeler dealerships.
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