Auto Stocks News

Auto stocks, including Eicher Motors and Maruti Suzuki, rose up to 2% as India seeks rare-earth magnet imports from Australia to lessen reliance on China, which controls over 90% of global supply.

Demand for entry-level vehicles is declining in the domestic market due to tight liquidity and high interest rates. However, a recent RBI repo rate cut could revive the sector, benefiting companies like Hero MotoCorp, TVS Motor, and Maruti Suzuki, as liquidity improves.

Hyundai Motor share price rose over 6%, hitting a new all-time high of ₹1,984.80 and surpassing its IPO price for the first time since October last year. The rally was driven by management’s optimism on sustained export growth, offsetting weak domestic demand.

Shares of Lumax Auto Technologies surged 20% to an all-time high of ₹834 after reporting a 50% YoY increase in Q4FY25 revenue, crossing ₹1,000 crore. The company also saw a 55.2% rise in net profit in March quarter.

Auto stocks, including Maruti Suzuki and MRF, are nearing record highs after a sustained upward trend. MRF is just 1% below its peak, while Mahindra & Mahindra and TVS Motor Company are also close to their all-time highs, driven by improved market sentiment and economic recovery expectations.

Bajaj Auto shares jumped by 2.5% to ₹8,765 in Wednesday's trade after a brief decline. Despite a 13.5% rise since May 8, analysts predict limited growth due to low volume. The stock is still 33% below its all-time high, with results set to release on May 29.

Hero MotoCorp and Eicher Motors reported Q4FY24 results meeting analyst expectations, driven by higher sales and exports. Analysts maintain an optimistic outlook, with target prices for Hero at ₹5,030 and Eicher at ₹5,665, reflecting strong market positions and product launches.

Pavna Industries shares hit a 20% upper circuit limit after announcing plans to raise up to ₹320 crores through equity shares for institutional buyers. The stock has increased by 18.97% over the past week, despite a decline of 28.30% over the past year.

In April, Maruti Suzuki saw a 4.3% increase in utility vehicle sales while mini-car sales plummeted by 45%. The overall car market faces challenges from affordability issues and changing consumer preferences, with growth projected at only 1%-2% for the current financial year.

Stock market today: Indian markets are expected to open flat on Friday, May 2, despite gains in Asian peers and a strong rally on Wall Street during Thursday’s session. Auto stocks will be active following April sales results. Eternal reports a profit decline.