Auto stocks sizzling
With the Indian motown buzzing with robust sales, the stocks of automotive manufacturers are sizzling at the bourses.
By Rajesh Chandramouli, TNN |
CHENNAI: With the Indian motown buzzing with robust sales, the stocks of automotive manufacturers are sizzling at the bourses. Listed biggies like Tata Motors, M& M, Bajaj Auto and Ashok Leyland registered their new 52-week highs at the BSE on Wednesday.
Returns delivered by auto companies are also handsome too. For instance, Tata Motors has managed a 29.2 per cent return in the past month. The stock closed at Rs 729.7 after touching a new high of Rs 739.4, while it was only around Rs 565 a month ago. Ashok Leyland touched Rs 55.6 on Wednesday netting a gain of 19.80 per cent.
Two-wheeler maker Bajaj Auto’s stock peaked Rs 1,699. This counter has returned a heady 21 per cent in the past month.
M&M recorded a monthly gain of 15.66 per cent. This stock scaled the Rs 1,098 peak, a new high this year. Maruti Suzuki has returned 9.2 per cent in the past month while Hero Honda Motors has returned 8.31 per cent. In the past month the bellwether BSE sensex has returned 11.45 per cent.
Some automobile manufacturers are also looking at the possibility of hiking prices effective January next year. General Motors has said it would increase the prices of all its models by 2-3 per cent, Toyota Kirloskar has said it was contemplating a price increase of 1.5-2 per cent.
Returns delivered by auto companies are also handsome too. For instance, Tata Motors has managed a 29.2 per cent return in the past month. The stock closed at Rs 729.7 after touching a new high of Rs 739.4, while it was only around Rs 565 a month ago. Ashok Leyland touched Rs 55.6 on Wednesday netting a gain of 19.80 per cent.
Two-wheeler maker Bajaj Auto’s stock peaked Rs 1,699. This counter has returned a heady 21 per cent in the past month.
M&M recorded a monthly gain of 15.66 per cent. This stock scaled the Rs 1,098 peak, a new high this year. Maruti Suzuki has returned 9.2 per cent in the past month while Hero Honda Motors has returned 8.31 per cent. In the past month the bellwether BSE sensex has returned 11.45 per cent.
Some automobile manufacturers are also looking at the possibility of hiking prices effective January next year. General Motors has said it would increase the prices of all its models by 2-3 per cent, Toyota Kirloskar has said it was contemplating a price increase of 1.5-2 per cent.
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