Maruti, M&M shares gain on hopes of festive sales

Sharekhan said both Maruti and Mahindra & Mahindra will outperform the sector in the near-term, citing a 'strong' order backlog

hidden November 19, 2012 14:15:08 IST
Maruti, M&M shares gain on hopes of festive sales

Shares in Maruti Suzuki and Mahindra & Mahindra gain on hopes for rising sales this month as part of the festival season.

Sharekhan said both Maruti and Mahindra & Mahindra will outperform the sector in the near-term, citing a "strong" order backlog, according to an email to clients.

Maruti MM shares gain on hopes of festive sales

A weakening Japanese yen is also helping Maruti Suzuki shares given expectations it will reduce the cost of royalty payments to Suzuki Motor. Reuters

Six models from the two companies, including the Maruti Dzire and the Mahindra XUV 500, have pending orders of about 170,000 units, or as much as 75 percent of the average monthly passenger vehicle sales recorded in the broader sector, as per Sharekhan calculations.

A weakening Japanese yen is also helping Maruti Suzuki shares given expectations it will reduce the cost of royalty payments to Suzuki Motor.

Maruti shares gained 4.2 percent, while Mahindra & Mahindra shares gained 1.5 percent.

Reuters

Updated Date:

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