Maruti Suzuki, M&M rally on sales hopes

Mon Nov 19, 2012 4:01pm IST

A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company's stock yard at Sanand in Gujarat October 30, 2012. REUTERS/Amit Dave/Files

A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company's stock yard at Sanand in Gujarat October 30, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in Maruti Suzuki and Mahindra & Mahindra(MAHM.NS) gain on hopes for rising sales this month as part of the festival season.

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 3.9 percent, while Mahindra & Mahindra shares gain 1.6 percent.

FILED UNDER:

Reuters Showcase

GDP Growth

GDP Growth

India revises up 2013/14 GDP growth to 6.9 percent.  Full Article 

Pharma Deal

Pharma Deal

Sun Pharmaceutical wins U.S. approval to buy Ranbaxy  Full Article 

Adani Restructuring

Adani Restructuring

Adani hives off power, ports businesses to boost growth.  Full Article 

Bank of Baroda

Bank of Baroda

Q3 net profit down 69 pct on higher provisions  Full Article 

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Currency Market

Currency Market

RBI urges companies to hedge FX exposure  Full Article 

Banking Sector

Banking Sector

Banks say no room to cut lending rates, thwarting RBI easing  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

Reuters India Mobile

Reuters India Mobile

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