What can we expect from IREDA Q2-FY25?
5 auto and auto ancillary stocks to watch out for on August 11
Last Updated: 14th December 2022 - 10:07 pm
As US inflation eases slightly to 8.5% in July, the market exuberance is back as global indices witness a rally.
Taking a clue, Indian indices are trading in green and BSE Auto sector is currently quoting at 29,846.78 with a gain of 153 points or 0.5%. Let us see which auto and auto ancillary stocks investors should keep an eye on.
Eicher Motors - For the quarter ended June 30, 2022, Eicher Motors’ total revenue from operations was recorded at Rs. 3,397 crores up 72% as compared to Rs 1,974 crore in the corresponding quarter of FY 2021-22; EBITDA was Rs 831 crore as compared to Rs 363 crore in the same quarter of the previous financial year. Profit After Tax was Rs 611 crore as compared to a profit of Rs 237 crore during the same period last year. Royal Enfield sold 186,032 motorcycles in the quarter which saw an increase of 52% YoY. At 11.30 am, the shares of Eicher Motors are quoting at Rs 3180 , up by 0.81% or Rs 25.45 per share.
Igarashi Motors -The company posted a net loss of Rs 4.20 crore for the first quarter of FY22-23. It reported net revenue of Rs 142.61 crore which was a 3.9% degrowth over Q1FY22. EBITDA stood at Rs 7.84 crore which degrew by 54.33% YoY. Igarashi Motors India Limited is primarily engaged in the manufacture of micro motors and their accessories mainly for the automotive sector.
At 11.30 am shares of Igarashi Motors were quoting at Rs 329.95 per share with a loss of 0.77% over its previous close.
Mahindra & Mahindra - The company informed in its exchange filing that Life Insurance Corporation has sold 2% of its shareholding in the automaker in the open market sale. Post offloading a 2% stake, LIC now holds a 6.42% stake in the company. The stake sale is for about Rs 2222.5 crore. At 11.30 am shares of the flagship company of the Mahindra Group were quoting at Rs 1268 per share with a gain of 0.05% over its previous close.
TVS Srichakra Ltd - One of India's leading two and three-wheeler tyre manufacturers reported a net loss of Rs 3.56 crore for the first quarter of FY22-23. It reported net revenue of Rs 713.54 crore which was 49.9% higher than the net revenue for Q1FY22. EBITDA stood at Rs 28.42 crore which grew by 18.02% YoY. In the morning session, the shares of TVS Srichakra were trading at Rs 2070 , a loss of 2.60% over its previous close.
Bharat Forge Ltd - A Singapore Court has dismissed Bharat Forge’s petition against Bombardier, the Canadian plane maker. Two years back, Bharat Forge had dragged Bombardier to court over alleged faulty parts in an aircraft. The court found the allegations “hopeless” both factually and logically and has directed Bharat Forge to pay $10,000 to Bombardier. In the morning session, the shares of Bharat Forge are trading at Rs 730 a gain of 2.13% over its previous close.
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