Key Points
Auto sales are rising sharply due to the pent-up demand caused by the Covid effect, but many auto companies have not met expectations in terms of results..
On the other hand, electronic manufacturing services have seen strong growth, driven by the new PLI scheme and a sharp increase in demand for electronic components and items.ETMarkets.com..
Mahantesh Sabarad, independent market expert, says although auto stocks have done well compared to what they were doing last year, there is a definite growth both in terms of top line and bottom line but that is not enough when it comes to the expectations and that is why some of these stocks are running out of steam...
It will be muted both in terms of volumes as well as in terms of profitability growth, so one has to take a further deeper call in terms of what other prospects lie ahead for automobile companies both in terms of let us say new plant announcements or new model announcements and things like that...
So, one thing you should remember, there is the new PLI scheme that has kicked in well for most of these manufacturing companies, particularly on the electronic side and you will also notice that India has started exporting a lot of electronic components as well as electronic manufactured items..
You might be interested in
We will see slightly better growth at Infosys than at TCS in near term: Sumeet Jain
13, Apr, 23So, I guess it is a wait and watch mode as of now. But if you talk about digital transformation and the cloud migration tailwinds, that are pretty much intact.
Possible increase in auto loan interest rates could impact PV sales: Maruti Suzuki's Shashank Srivastava
07, Jan, 24Maruti Suzuki India's Senior Executive Officer (Marketing and Sales) Shashank Srivastava predicts that an increase in interest rates for auto loans could impact passenger vehicle sales in India. With a record 41.08 lakh units in 2023, the auto industry is expected to grow in a single digit, with the overall economic growth of the country being a positive factor.
Carmakers hit sales record in October
02, Nov, 23Strong rural demand, better chip supply lift festive sentiment
Alternate fuel, connected tech add impetus to CV sales in FY2023
04, Apr, 23OEMs are pushing connected technologies in their vehicle offering to provide higher uptime, which leads to growth in business for the customers and all of this has added to brisk sales in FY2023.
Top firms see 20-25% sales growth this summer
17, Apr, 23Rising mercury leads to sharp spike in demand .
Festive demand propels power, fuel demand in October
01, Nov, 23India Business News: India's fuel sales rebounded in October, with diesel consumption increasing by 5% compared to the previous year, the highest growth since May. Power d