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In the latest earnings season, Nifty-50 experienced its lowest growth in 17 quarters, with benchmark indices dropping nearly nine percent from their 52-week highs. Motilal Oswal identified ten "winners," including SBI, Sun Pharma, and M&M, which showed resilient performances despite the overall muted results. Conversely, Tata Motors and Asian Paints were highlighted as laggards following disappointing earnings.
Slovakia, known as "Europe's Detroit," faces significant risks from potential U.S. tariffs under President-elect Trump, as nearly 74% of its exports to the U.S. are passenger cars. The country, which has rapidly developed its automotive industry, now relies heavily on this sector, employing over 250,000 people. While European lawmakers are wary of Chinese competition, the uncertainty surrounding U.S. trade policies poses a new challenge for Slovakia's economy.
Lumax Auto Technologies has acquired a 60% stake in Greenfuel Energy Solutions for Rs 153 crore, marking its entry into the green and alternate fuels market. The acquisition, executed through Lumax Resources, was financed through debt and internal accruals. Greenfuel specializes in high-pressure fuel delivery systems for CNG and hydrogen vehicles, serving major OEMs like Maruti Suzuki and Tata Motors, and will continue to operate under MD and CEO Akshay Kashyap.
Tata Motors is intensifying its electric vehicle (EV) strategy despite a market slowdown, focusing on expanding Tata.ev showrooms to enhance customer engagement and support. These outlets aim to address customer queries and promote understanding of EV technology, facilitating quicker adoption. The company has begun retailing electric versions of models like Punch, Tiago, Tigor, and Nexon, with the Currv EV also now available.
On November 22, the BSE Sensex surged by 1,599 points (2.1%) to reach 78,754, while the NSE Nifty rose by 478 points to 23,828, driven by a rally in financial stocks and strong US labor market data. Market breadth was positive, with 2,123 shares gaining and 1,218 declining. Key gainers included Reliance Industries, ICICI Bank, and Tata Motors, while the Nifty PSU Bank index rebounded by 2.47% after a previous decline.
Markets experienced their largest single-day gain in two months, with the Sensex rising over 1,000 points and the Nifty surpassing 23,750, driven by a broad-based rally. Despite this rebound, experts caution that sustained recovery is unlikely due to foreign institutional investors" selling and concerns over weak earnings growth in FY25. The market may consolidate around current levels with sideways movements.
Mahindra and Mahindra (M&M) shares rose 4% to Rs 2,959 after CLSA maintained an "outperform" rating with a target price of Rs 3,440, indicating a 16% upside. Analysts expect growth to focus on mid and premium SUVs, supported by a strong pipeline of new model launches and shifting consumer preferences. M&M also reported an 18% YoY growth in passenger vehicle volumes in Q2 FY24, outperforming competitors, while the tractor segment is projected to enter a growth cycle with significant volume and EPS increases through FY27.
Nifty companies reported a 4% year-on-year profit growth in Q2, marking the second consecutive quarter of single-digit growth, driven by SBI, Hindalco, ONGC, ICICI Bank, and Axis Bank. However, underperformance from BPCL, JSW Steel, and others offset gains, with consumption and asset-quality stress in BFSI sectors noted as weak spots. FY25 earnings projections have been downgraded by 7%, with a mere 5% growth expected, the weakest since FY20.
The global automotive market, valued at $2800 billion in 2021, is projected to grow at a CAGR of 5.0% from 2022 to 2030, driven by rising disposable incomes, technological advancements, and increasing demand for electric and autonomous vehicles. The Asia-Pacific region is expected to lead this growth, supported by government investments and incentives for electric vehicle adoption. Major players include General Motors, Maruti Suzuki, and Volkswagen, with ongoing mergers and innovations shaping the industry landscape.
Tata Motors anticipates improved passenger vehicle retail growth in Q3, driven by recent model launches and a focused marketing strategy, despite a 5% drop in Q2 registrations. The festive season has sparked a revival in demand, helping to address inventory challenges and the impact of subsidy phasing.
Tata Motors Limited
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
winners and laggards emerge from muted earnings season in second quarter
09:37 28.11.2024
lovakia's auto industry faces uncertainty amid potential us tariffs
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07:24 27.11.2024
Lumax Auto acquires majority stake in Greenfuel Energy for 153 crore rupees
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04:16 27.11.2024
Tata Motors expands electric vehicle showrooms despite market challenges
13:30 25.11.2024
Indian stock market surges as financial stocks rally on strong US data
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08:03 22.11.2024
markets rebound as sensex jumps over 1000 points amid investor optimism
08:03 19.11.2024
Mahindra and Mahindra shares rise as CLSA projects strong growth potential
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07:16 19.11.2024
Nifty reports single-digit earnings growth for second consecutive quarter
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09:58 17.11.2024
global automotive market poised for growth driven by technology and consumer demand
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22:21 13.11.2024
Tata Motors anticipates Q3 growth amid festive season demand revival
07:26 09.11.2024
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