Auto Stocks Outlook: 30.07.2012 - 03.08.2012
The Reserve Bank of India's first quarter policy review on
Tuesday and monthly sales numbers by automakers due Wednesday are expected
to set the trend for auto stocks in the coming week. Hero MotoCorp,
Mahindra & Mahindra and Bajaj Auto are expected to come out with better
sales numbers for July whereas Tata Motors' despatch figures for the month
could be disappointing. Maruti is expected to be rangebound in the coming
week with a slightly negative bias. Maruti Suzuki's plant in Manesar,
Haryana has been shut since Jul 18 following labour riot. The company will
detail its Apr-Jun results on Saturday. However, unless the results are far
from expectations, they won't impact the stock's movement significantly as
focus is on Manesar developments. Any significant change in repo rate by
the Reserve Bank on Tuesday will lend direction to the broad market and
interest-sensitive auto stocks.
By RUPEE DESK [email protected]
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