Unstructured Finance

BSE Auto index falls 2 pct

Auto stocks struggled in trade on Friday, as stocks like Exide Industries, M&M and Maruti Suzuki fell, pushing the sectoral index down 2 percent.

Exide Industries ended down 4.6 percent as the top loser in the auto index, followed by M&M which dropped 3.3 percent.

Maruti Suzuki shares fell nearly 1 percent while Tata Motors dropped more than 2 percent. The situation in Japan has been weighing on Maruti’s stock for some days now.

Do you think it is the right time to pick some stocks from the autos space?

Auto stocks end lower

The BSE Auto Index fell 1.4 percent and was the top sectoral loser, with stocks like Hero Honda and Tata Motors slipping.

Hero Honda shed nearly 3 percent after it posted a 1.6-percent drop in quarterly net profit. JPMorgan cut its share price target for the stock.

Tata Motors ended down 2.2 percent while Ashok Leyland ended down 1.5 percent.

M&M was among stocks that closed in the green, closing 2.7 percent higher.

Would you take advantage of this fall and invest in these counters?

Auto stocks post decent gains

The BSE Auto Index gained 1.27 percent on Friday, as a top industry body official said he expected Indian vehicles sales to reach a record high for the second year in a row in 2010/11.

Shares in Tata Motors rose 4.5 percent to 808 rupees and ended as the top gainer among the Sensex and auto index components.

Other stocks also posted decent gains, with TVS Motors rising 3.1 percent and Hero Honda jumping 2 percent.

Hero Honda jumps over 4 percent

Hero Honda jumps over 4 percent Shares in Hero Honda gained more than 4 percent on Thursday as markets ended firm with the Sensex rising by 107 points. BSE Auto index rose 0.46 percent. Amtek Auto climbed 1.4 percent whereas Ashok Leyland gained nearly 1 percent. Among losers, Tata Motors’ stock had a weak trading session and ended down 1.87 percent. Maruti Suzuki slipped 1.47 percent. Do you have a favourite auto stock for investment at this stage?

Shares in Hero Honda gained more than 4 percent on Thursday as markets ended firm with the Sensex rising by 107 points.

BSE Auto index rose 0.46 percent.

Amtek Auto climbed 1.4 percent whereas Ashok Leyland gained nearly 1 percent.

Among losers, Tata Motors’ stock had a weak trading session and ended down 1.87 percent. Maruti Suzuki slipped 1.47 percent.

Do you have a favourite auto stock for investment at this stage?

Auto stocks end weak

The BSE auto index slipped 1.8 percent on Tuesday, with shares in Maruti Suzuki slipping 3.2 percent.

Maruti Suzuki India is recalling 100,000 A-Star hatchbacks to fix a fuel leakage problem, a spokesman for the company told Reuters on Tuesday.

Shares in Ashok Leyland ended down 3 percent, Apollo Tyres slipped 2.95 percent, whereas TVS Motors ended down 2.8 percent.

Maruti drops, mixed day for auto counters

Shares in Maruti Suzuki dropped 3.5 percent on Wednesday after the Reserve Bank said foreign institutional holdings had reached a trigger limit and fresh purchases would need its prior approval.

Its shares closed at 1462.6 rupees and ended as the top loser among Sensex components. It was also among the top losers in the BSE Auto Index.

The auto index however ended only marginally in red, with stocks such as Escorts, Bharat Forge and M&M gaining.  TVS Motors ended down 3.7 percent, top loser in the index.

Auto stocks slip

The BSE Auto index fell nearly 1.5 percent on Friday with stocks like Maruti Suzuki and Mahindra & Mahindra falling.

The auto index ended as the worst sectoral performer, with Exide Industries leading the losers pack with a near 5 percent decline.

Maruti and M&M which fell over 2 percent and Hero Honda which slipped 1.6 percent, ended as top losers among the Sensex components.

Auto stocks post healthy gains

The BSE Auto index rose 1.5 percent on Friday, taking the festive season-backed gains for the month to 7.4 percent.

Hero Honda and Maruti Suzuki rose 4 percent each in trade, ending as the top gainers among the Sensex components. Exide Industries surged 8.6 percent.

Gains from these stocks also helped the benchmark post a rise of over 150 points.

M&M stock rises in weak market

AUTO INDIA MAHINDRAShares in Mahindra & Mahindra rose nearly 4 percent to 928 rupees and ended as the top Sensex gainer, even as the benchmark index dropped over 200 points.

The company reported its quarterly numbers on Wednesday and said net profit nearly trebled, helped by cost cuts and strong sales.

Its shares, which ended as the top gainer in the BSE Auto index, touched an intra-day high of 942 rupees before closing at 928 rupees.

Ford picks Geely… for now

Whatever reservations Ford may have had about selling Volvo to Geely and potentially exposing all of its competitive secrets to pirate-infested Chinese markets, they appear to have been laid to rest … for now.

The U.S. automaker named a Geely-led consortium as preferred bidder for the money-losing Swedish unit, estimated to be worth about $2 billion. The news is conspicuously coincidental — as many such stories are — with intensely routine negotiations in Hangzhou between top trade officials of the two countries. Naturally, Ford left open the possibility that it could back out of the deal, saying more detailed talks were needed.

It’s been nearly a year since Ford began efforts to sell Volvo, and only a week ago a source was telling us that concerns about intellectual property rights were threatening to scupper the deal. That followed news of a former Ford engineer’s arrest in the United States on charges of stealing trade secrets from Ford and using them to try to get work with Chinese auto makers. Good thing Volvo is such a safe brand; even with a preferred bidder in place, this asset sale could prove to be a wild ride.

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