If such a trend continues, a 15-20 percent correction in stock prices is likely, like the one seen in 2018-19 when auto sales started slowing.
During the quarter, total income rose 12.3 percent at Rs 15306 crore in Q4 against Rs 13624.8 crore year-on-year.
We will try to maintain the margins in a range of plus or minus 0.5 percent at around 17 percent, said SV Raghavendra, CFO, Amara Raja Batteries.
Bajaj Auto plans to start exporting its much-delayed quadricycle, christened as Qute, across various global markets by month-end even as it awaits Supreme Court verdict to introduce it in the domestic market.
SP Tulsian of sptulsian.com is of the view that Maruti Suzuki may go upto Rs 1450-1460 in next one month or so.
CNBC-TV18's Sunanda Jayaseelan reports that June has been another washout month for most auto majors, with sales falling further for both carmakers and two-wheeler makers
Nomura's auto analyst, Kapil Singh is positive on four-wheeler space and suggests avoiding two-wheeler space because demand for the industry has been slow.
Bajaj Auto on Tuesday led to rest all the speculation surrounding its ultra-low-cost-car programme by unveiling the four-wheeler RE60, which it feels will revolutionize mass transportation and change the way people commute within the city.
Vijay Kedia, director of the Rajkot-based auto company, in an exclusive interview, said, "the company had exposure only in the three-wheeler space. Hence, we are diversifying portfolio to high-growth businesses."
Auto sales numbers for the month of May have come in. The month of April had shown early signs of a slowdown in demand in the wake of rising interest rates and higher crude oil prices. However, May seems to have charged ahead for some of the auto bigwigs.