May 2, 2018 / 4:10 AM / 3 months ago

BUZZ-Shares of Indian auto companies rise on strong April sales

** Shares of Indian auto companies rise after strong April sales numbers

** Tata Motors Ltd rises as much as 3.3 pct, Maruti Suzuki India gains as much as 2.1 pct

** TVS Motor Co, Mahindra and Mahindra Ltd and Bajaj Auto rise between 0.7 pct and 1.2 pct

** Tata Motors’ April domestic sales of commercial & passenger vehicles surge 86 pct, with medium and heavy commercial truck segment jumping 317 pct, helped by govt’s focus on infrastructure development and road construction

** Maruti Suzuki India’s April sales rise 14.4 pct

** Sales of TVS Motor, Mahindra and Mahindra, and Bajaj Auto rise 22 pct-26 pct

** Eicher Motors’ April motorcycles sales rise 27 pct, while trucks and buses sales climb 28 pct

** JP Morgan analysts say 6 pct-10 pct growth “across segments is achievable” going into FY19

** Macquarie analysts are optimistic on auto industry to sustain healthy growth in 2018, “led by higher income growth, a rural demand revival and the rise in infrastructure spend”

** Maruti remains top pick for at least two brokerages, Nomura and Macquarie, given its high volume visibility and market leading growth

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