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MARKET EYE-Maruti Suzuki gains on strong June sales
July 2, 2012 / 8:26 AM / 5 years ago

MARKET EYE-Maruti Suzuki gains on strong June sales

* Shares in India's Maruti Suzuki India rose 1.4 percent,
bucking the weak trend seen among peers, after reporting 20
percent growth in vehicle sales for the month of June.
 
* Traders say Maruti is a relatively safer pick considering
recent brokerage upgrades and stellar performance for the month
of June, while sales of Tata Motors, Bajaj Auto
 and Hero MotoCorp have come in slightly
below expectations.
* Shares in Tata Motors fell 1.5 percent after sales in June
declined by 3 percent. 
* "Our interactions with dealers indicate lower enquiries and
conversion rates from freight operators," said domestic
brokerage Avendus.
* Avendus adds that moderation in domestic sales volumes for TVS
Motors may continue till the launch of new products,
while its export volumes would remain under pressure due to hike
in import duty by Sri Lanka.
* Shares in TVS Motors fell 2.6 percent after it reported a fall
of 7.5 percent in June sales. 

 (abhishek.vishnoi@thomsonreuters.com)

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