Five automobile stocks to keep an eye on today!
While BSE Sensex had a marginal gain of 0.15%, BSE Auto is among the top index gainers with a 0.6% surge.
These are the 5 stocks from the auto sector that are in focus today.
Tata Motors: Jaguar Land Rover has formed a multi-year strategic partnership with NVIDIA to jointly develop and deliver next-generation automated driving systems plus AI-enabled services and experiences for its customers. Besides the partnership with Nvidia, the stock reacted positively to brokerage firm JP Morgan India’s initiation of coverage on the scrip with an ‘overweight’ rating. At 11 AM, Tata Motors was trading 1.77% up for the day.
Mahindra Automotive said it has tied up with Quiklyz, the vehicle leasing and subscription platform of Mahindra Finance, to lease Mahindra Vehicles. This partnership will allow customers to lease their chosen Mahindra vehicles. The customer will have a choice of tenure between 24 months and 60 months as well as have the flexibility to select annual kilometre options starting with 10,000 km/year.
Ashok Leyland has partnered with Syncron for predictive vehicle maintenance solutions. As part of the partnership, Syncron is integrating an anomaly detection model into Ashok Leyland Condition Monitoring systems. At 11 AM, Ashok Leyland was trading 0.7% down for the day at Rs 127.30.
Eicher Motors has posted results two days back, where its consolidated revenue increased 2% to Rs 2,881 crore on a YoY basis, however, net profit declined 14% YoY at Rs 456 crore. The quarter missed expectations due to lower-than-expected performance by Royal Enfield. At 11 AM, Eicher Motors was trading 0.59% up for the day.
Balkrishna Industries posted subdued Q3 numbers. Revenue increased 33% on YoY to Rs 2,046 crore from Rs 1,509 crore in the last year same quarter. However, PAT had a marginal growth of 5% on YoY to Rs 339 crore from Rs 325 crore in the last year same quarter. At 11 AM, Balkrishna Industries was trading down by 0.11%.
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