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you are here: HomeNewsOpinion

Auto component stocks shiver on fears of Omicron virus impact

The stocks had run up by 70-80 per cent over a year. Hence, a drop in stock prices would make the risk-reward equation for investors more favourable

Vatsala Kamat
November 30, 2021 / 09:44 AM IST
Auto component stocks shiver on fears of Omicron virus impact

PRO Only Highlights
-  Quarterly performance largely backed by improved realisations
-  Medium-term triggers China plus and protectionist measures for tyre industry
-  Valuations not inexpensive; but improved medium-term outlook

Shares of large auto component makers tumbled on Monday, November 29. Fears over the spread of a new virus variant, Omicron, precipitated investor worries about prolonged disruption in supply chains that are already haunting the global auto industry. Noticeably, companies with significant export revenue such as Motherson Sumi Systems, Bharat Forge, Suprajit Engineering and Apollo Tyres fell hard by 7-10 percent in a single trading session. Although it is too early to conclude the impact of this variant with 32...

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