5 auto stocks to watch out for on September 1

5 auto stocks to watch out for on September 1

by 5paisa Research Team Last Updated: Dec 10, 2022 - 08:31 pm 17.4k Views
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The auto sales number for August 2022 are being released by  somecompanies while others are underway.

As domestic sales show signs of recovery while exports continue to be affected. Let us have a look at the recent development in auto stocks and how they are faring at the bourses.

Escorts Kubota Ltd Agri Machinery Segment in August 2022 sold 6,111 tractors registering a growth of 7.3% as against 5,693 tractors sold in August 2021. Domestic tractor sales stood at 5,308 tractors registering a growth of 7.9% YoY while the export sales was at 803 tractors registering a growth of 3.9% YoY. The company expects positive demand in the festive month of September and hence a stretched peak selling season of three months. At 11.30 am the shares of Escorts Kubota were quoting at Rs 2008.45, up 0.70%

Bajaj Auto Ltd sold 233,838 2-wheelers in August 2022 in the domestic market which has grown by 48% compared to the same period last year along with the highest ever sale of Platina at 100,000 units. Export sales of 2-wheelers were however down by 32% YoY at 121,787 units. Commercial vehicle sales registered a growth of 31% at 45,970 units (Domestic and Export). Total (2-wheeler and Commercial Vehicles) sales grew by 8% to 401,595.

YTD, shares of Bajaj Auto have gained 25.11% on the bourses. At 11.10 am the shares of Bajaj Auto were quoting at Rs 4093.85, down  0.21% .

Tata Motors informed in a press release that the company has signed an agreement to purchase the balance of 49% shareholding from the joint venture partner, Marcopolo SA in Tata Marcopolo Motors Ltd (TMML), consequent to which TMML will become a wholly owned subsidiary of the company, following the completion of the procedural requirements. Under the JV, TMML built bus bodies on chassis supplied by Tata Motors and marketed by Tata Motors under the “Starbus” and “Starbus Ultra” bus brands. After a successful venture in India, and as a consequence of its refreshed business strategy, Marcopolo SA has decided to exit from the JV and offered to sell its 49% shareholding in the JV to the company. At 11.30 am, the shares of Tata Motors were quoting at Rs 470.30 down 0.15%.

Ashok Leyland is rising fast in today’s trading session rallying 4.8%. The shares of Ashok Leyland touched intraday high at Rs 161.75 a piece. At Rs 161.75, the stock hit a fresh 52-week high as the automaker bagged mega orders for 1,400 school buses in UAE.  At 11.30 am, the shares of Ashok Leyland were quoting at Rs 159.85 up 3.90%.

Maruti Suzuki is celebrating ’40 years of Suzuki’s partnership with the people of India’. At the ceremony, Prime Minister Shri Narendra Modi laid the foundation stone of Suzuki Motor Gujarat electric vehicle battery manufacturing facility at Hansalpur, Gujarat. RC Bhargava, Chairman, Maruti Suzuki India Limited spoke at the event “With the success of Maruti Suzuki, India has become the 4th largest car manufacturer in the world.” In the morning session, the shares of Maruti Suzuki are trading at Rs 9140 a gain of 0.54% over its previous close. 

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