September had been a decent month for the automobile sector as majority of automakers posted a rise in the monthly vehicle sales. We look at five auto ancillary stocks which have more than doubled the investor’s money so far this year.
September had been a decent month for the automobile sector as majority of automakers posted a rise in the monthly vehicle sales. The sales in the automobile sector are been flourishing since after the implementation of the nationwide tax reform, GST (Goods and Services Tax) in the month of July. The automobile manufacturers who had reported a surge in the September vehicle sales figures include the likes of biggies such as Tata Motors, Maruti Suzuki, Hero MotoCorp, and Bajaj Auto. On the back of sturdy sales figures, most of the auto ancillary stocks are trading higher today. We look at five stocks which have more than doubled the investor’s money so far this year.
Shares of Jay Bharat Maruti have returned above 120% to Rs 617.95; the stock of Sharda Motor had risen about 165% to Rs 2,661.7; JBM Auto surged 145% to Rs 569; Rane Holdings had jumped around 125% to Rs 1,755 while shares of Minda Industries have risen the most among these five, soared about 180% to Rs 843 since January this year. All of these five stocks are ended up in green today. While the stock market cap leader amid the auto ancillary space Motherson Sumi Systems had zoomed about 55% to Rs 340 in the same period.
Major September sales in a nutshell:
- India’s largest car maker Maruti Suzuki India (MSI) reported 9.3% increase in total sales at 1,63,071 units in September.
- Tata Motors reported a 25% increase in domestic sales at 53,965 units in September.
- Bajaj Auto reported 14% increase in total sales at 4,28,752 units in September.
- Royal Enfield, the two-wheeler division of Eicher Motors reported a 22% rise in sales at 70,431 units in September.
- Mahindra and Mahindra reported a 16% increase in total sales at 53,663 units in September.
- TVS Motor Company reported a 23% increase in total sales at 3,59,850 units in September.
- Ashok Leyland reported a 27.53% jump in total sales at 15,370 units in September.
- India’s largest two-wheeler maker Hero MotoCorp has sold over a million units in the festive season so far, PTI reported.