M&M and auto sector, among others, are being tracked by investors on Tuesday.
M&M
Brokerage: CLSA | Rating: Buy | Target: Rs 910
CLSA said that the firm is its top buy in Indian autos for 2018. The company is benefitting from healthy demand in tractors & cyclical recovery in LCVs. Further, SUV volumes are bottoming out and upcoming MPV launch should boost growth. It sees a case to be more positive on rural India given the rising government spending.
Autos
The brokerage house said that Maruti’s December wholesales at 1.3 lakh units were below estimates. It highlighted Eicher’s December production may have been impacted by capacity transitioning at Thiruvottiyur. Further, TVS Motor's December sales were at 2.56 lakh units, above estimates.
Financials
Brokerage: CLSA
The global research firm said that key themes for 2018 will be ‘trend reversal’ on rates & bank credit growth. Along with this, deposit mobilization and liquidity will be the key. It also sees continuity in financialization of savings, capital raising and pick-up in housing. It likes IndusInd Bank, HFCs that will benefit from uptick in activity. Non-lending financials will benefit from financialization of savings.
MORE WILL UPDATE SOON!!
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