Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Auto stocks under pressure as ahead of May sales numbers

The sales numbers are expected to be weak given the lockdowns in various parts of the country to curb the spread of coronavirus. Read on to know what are the best bets among auto stocks

May 31, 2021 / 12:56 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Auto stocks remain under pressure ahead of the May auto sales announcement on June 1. The sales numbers are expected to be weak given the lockdowns in various parts of the country to curb the spread of coronavirus.

India has been grappling with a highly contagious variant of coronavirus amid second wave where the number of daily new Covid cases peaked around 4 lakh in early May. The number of cases have been falling since and are now hovering around 2 lakh per day.

Follow our coronavirus live updates here

As compared to the numbers in May 2019, May 2021 volumes are expected to witness a double-digit decline across segments. As volumes are not comparable YoY due to the low base last year, Emkay has weighed them against May’19 numbers.