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Maruti Suzuki, Bajaj Auto hit new highs in an otherwise subdued market

Maruti Suzuki, Bajaj Auto hit new highs in an otherwise subdued market on Business Standard. In past three months, Bajaj Auto (up 22%) and Maruti Suzuki India (13%) has outperformed the Sensex, which gained 7% during the period.

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Maruti Suzuki, Bajaj Auto hit new highs in an otherwise subdued market

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  1. Business Standard Maruti Suzuki, Bajaj Auto hit new highs in an otherwise subdued market In past three months, Bajaj Auto (up 22%) and Maruti Suzuki India (13%) has outperformed the Sensex, which gained 7% during the period.

  2. Shares of two automobile companies – Bajaj Auto (Rs 3,344) and Mauti Suzuki India (Rs 8,487) - have hit their respective new highs on the BSE in intra-day trade on Wednesday in otherwise subdued market. At 10:59 AM; both these stocks were trading higher by 1% as compared to a marginal 0.13% rise in the S&P BSE Sensex. In past three months, Bajaj Auto (up 22%) and Maruti Suzuki India (13%) has outperformed the Sensex, which gained 7% during the period. Going forward, in FY18, CARE Ratings expects the auto industry to witness gradual pickup in demand on back of release of pent up demand post the disruptions led by the effect of demonetization, ban on BS-III vehicles and Goods and Services Tax (GST) implementation begins to moderate starting Q3FY18 expected to continue in Q4FY18. Emkay Global Financial Services believes that the stage is set for strong growth in automobile demand in H2FY18 and FY19, mainly due to increase in Government capital spending and focus on rural economy, near normal monsoon and higher disposable income in view of 7th Pay Commission awards, new launches, benign interest rates and a low base. Two wheelers, tractors and passenger vehicles segments are likely to witness strong double-digit volume growth over FY17-19E, while medium & heavy commercial vehicles volume growth would see a turn around, the brokerage firm said in quarterly review. However, on the other hand, according to Society of Indian Automobile Manufacturers (SIAM), despite revival in domestic economy, rising fuel cost is expected to hamper the growth of the industry in the second half of FY18, said CARE Ratings said in sector update.

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