Business Daily from THE HINDU group of publications
Thursday, Jan 31, 2008
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Business Daily from THE HINDU group of publications Thursday, Jan 31, 2008 ePaper | Mobile/PDA Version |
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Automobiles Markets - Stocks Columns - Ear to the ground Auto stocks have been at the receiving end for quite some. While the interest rate situation seem to have affected the sentiment for the auto companies, which are facing a slow-down, analysts tracking the auto sector say the going could be tough for these stocks in the days ahead. According to them, a lot of broking houses are preparing to ‘downgrade’ auto sector as the expected interest rate cut in Credit Policy did not materialise. Market men had expected at least a 25 basis point cut in the interest rate. In the event, auto companies are unlikely to show better results in the current quarter as well, analysts feel. Moreover, the results announced by most of these companies for the quarter ended December 30, 2007, were also not that encouraging, they added. Stocks such as Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki and TVS Motor declined while Hero Honda ended flat. However, LML jumped five per cent on news that the company plans to re-launch Piaggio. K.S. Badri Narayanan More Stories on : Automobiles | Stocks | Ear to the ground
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