MARKET EYE-India's Maruti Suzuki rallies on sales hopes

Mon Nov 19, 2012 12:11pm IST

Related Topics

Stocks

   
Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

* Shares in Maruti Suzuki and Mahindra & Mahindra
 gain on hopes for rising sales this month as part of
the festival season.
* Indian brokerage Sharekhan said both Maruti and Mahindra &
Mahindra will outperform the sector in the near-term, citing a
"strong" order backlog, according to an email to clients.
* Six models from the two companies, including the Maruti Dzire
and the Mahindra XUV 500, have pending orders of about 170,000
units, or as much as 75 percent of the average monthly passenger
vehicle sales recorded in the broader sector, as per Sharekhan
calculations.
* A weakening Japanese yen is also helping Maruti Suzuki
shares given expectations it will reduce the cost of royalty
payments to Suzuki Motor. 
* Maruti shares gain 4.2 percent, while Mahindra & Mahindra
shares gain 1.5 percent.

 (manoj.dharra@thomsonreuters.com)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Top News

REUTERS SHOWCASE

Kerry's India Visit

Kerry's India Visit

Kerry presses India on WTO deal ahead of arrival  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

L&T Slumps

L&T Slumps

L&T earnings raise 'multiple red flags' - Citi  Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage