Auto Stocks Outlook for the week - 23.12.2013 - 27.12.2013
www.rupeedesk.inStocks of major
automakers will move in line with the broader market on lack of any
sector-specific triggers. There is nothing happening for the auto sector next
week. We expect it to move broadly with the market. Stock indices are seen
trading with a positive bias next week, but volatility is likely to persist
ahead of the expiry of the December derivatives contract on
Thursday.
There could be some sector-specific movement later in the week
with the anticipation of sales numbers of automakers ongoing month.The broader
market is also range-bound. The Nifty is seen finding support between 6100 and
6130 next week. Cogencis had reported, quoting sources, Tuesday that the Central
Pollution Control Board was concerned over the pollution that the
yet-to-be-launched quadricycle may cause. The regulatory body is also expected
to put forth its concerns to its parent ministry soon,
According to a
source,Maruti Suzuki India Ltd plans to launch a new hatchback in
February-March. Launching a product is always good. If the company confirms the
news then the stocks might trade with a positive bias. The scrip of Hero
MotoCorp Ltd is likely to be positive for the next few weeks as the company is
all set to launch a slew of motorcycles and also variants of the existing models
January onwards. Tata Motors Ltd's story looks promising in the near term as the
company has shown good volumes and numbers on the back of its subsidiary Jaguar
Land Rover