Automobile companies are expected to witness a jump in profit margins in the Q1FY24 on the back of price hikes and steady input costs. A shift in focus towards premiumisation could also accelerate margins in the upcoming quarters. Catch this chat between Moneycontrol’s Nandita Khemka and CNBC-TV18’s Sonia Shenoy to know more about what to watch out from auto earnings in the first quarter.
Sensex and Nifty 50 traded marginally lower on June 1. Losses in financial and telecommunication shares are in the red, dragging the headline indices. Healthcare and IT stocks on the other hand are trading in the green. The bill to raise the debt limit and cap government spending in the US was passed by a wide margin late on Wednesday Eastern Time in the House. Nandita Khemka & Yatin Mota discuss the newsmakers on their radar including Bajaj AUto and Bharti Airtel only on closing bell.
The Nifty ended a volatile session above 17,750, while the Sensex shut shop above the 60,000 mark. The Street will react to Bajaj Auto and Tata Consumer numbers that came in after market hours. Momentum in domestic sales helped offset sluggish export growth for Bajaj Auto. Strong volumes and price hikes may drive Maruti’s revenues higher in Q4. We take stock of auto earnings with Mitul Shah, Head of Research, Reliance Securities, and also discuss the trade setup and stocks like Tata Consumer, Bajaj Finance and Mahindra Life with Nilesh Jain of Centrum Broking. Watch!
The 50-share NSE Nifty breached 8100 level amid consolidation in morning trade. HDFC twins and two-wheeler stocks were under pressure while oil and PSU banks were strong.
Benchmark indices extended gains amid consolidation, with the Nifty reclaiming 8650 level while the broader markets continued to outperform, rising around a percent.
Two-wheeler manufacturer Bajaj Auto has reported a 6.7 percent growth in second quarter profit at Rs 1,122 crore on yearly basis, largely driven by other income.
Two-wheeler maker Bajaj Auto's profit is likely to increase 9.3 percent year-on-year to Rs 1,020.6 crore but revenue may be flat at Rs 6,103 crore against Rs 6,097.8 crore due to tepid volume growth.