Bajaj Auto LIMITED
Home based two wheeler maker Bajaj auto sales declined by 22% in the month of Dec 2016 as compared to the last year in the same month because of currency demonetization impact on liquidity in the hand of customers. Sales also fell more than 16 percent compared with previous month. Exports dropped, too, by 27 percent to 1.05 lakh units from 1.45 lakh units while domestic sales declined 17 percent to 1.19 lakh units on yearly basis. Motorcycle sales were down 18 percent year-on-year at 2.03 lakh units and 3-wheeler sales fell 46 percent to 22,217 units in December. For the nine months period ended December 2016, its sales slipped 5 percent to 28.78 lakh units due to a 23 percent de-growth in exports. However, domestic sales grew by 11 percent year-to-date.
Technical View on Bajaj Auto Ltd
Home based two wheeler maker Bajaj auto sales declined by 22% in the month of Dec 2016 as compared to the last year in the same month because of currency demonetization impact on liquidity in the hand of customers. Sales also fell more than 16 percent compared with previous month. Exports dropped, too, by 27 percent to 1.05 lakh units from 1.45 lakh units while domestic sales declined 17 percent to 1.19 lakh units on yearly basis. Motorcycle sales were down 18 percent year-on-year at 2.03 lakh units and 3-wheeler sales fell 46 percent to 22,217 units in December. For the nine months period ended December 2016, its sales slipped 5 percent to 28.78 lakh units due to a 23 percent de-growth in exports. However, domestic sales grew by 11 percent year-to-date.
Technical View on Bajaj Auto Ltd
The stock is trading in sideways to negative trend on daily chart and looks weak below the 2510 for the sell target of 2365, However if it sustain by breaking the short term downtrend line on daily chart on closing basis above the level of 2666 then it may test the next resistance level of 2786.
Maruti Suzuki India Ltd
The largest car producer of India Maruti Suzuki Ltd reported decline in Dec sales figure by 1% as against the same month sales in last year. The company’s domestic sales stood at 1,06,414 units, down 4.4 per cent from 1,11,333units in December 2015. The sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno declined by 8.6 per cent to 43,295 units last month as against 47,354 units in the year-ago period. Sales of mini segment cars, including, Alto and WagonR, declined by 15.3 per cent to 31,527 units during the month under review as compared to 37234 units in December 2015. Sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza however surged 75.3 per cent to 16,072 units in December 2016 from 9,168 units in the corresponding month of 2015. However, Exports during the month under review increased by 47.1 per cent to 11,494 units as compared to 7,816 units in December 2015.
Technical View on Maruti Suzuki India Ltd
Maruti Suzuki India Ltd
The largest car producer of India Maruti Suzuki Ltd reported decline in Dec sales figure by 1% as against the same month sales in last year. The company’s domestic sales stood at 1,06,414 units, down 4.4 per cent from 1,11,333units in December 2015. The sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno declined by 8.6 per cent to 43,295 units last month as against 47,354 units in the year-ago period. Sales of mini segment cars, including, Alto and WagonR, declined by 15.3 per cent to 31,527 units during the month under review as compared to 37234 units in December 2015. Sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza however surged 75.3 per cent to 16,072 units in December 2016 from 9,168 units in the corresponding month of 2015. However, Exports during the month under review increased by 47.1 per cent to 11,494 units as compared to 7,816 units in December 2015.
Technical View on Maruti Suzuki India Ltd
The stock has witnessed buying interest after the declaration of monthly sales figure and has given breakout on daily chart. The further buying interest can be seen if it maintains the level of 5350 on closing basis and remains above it for the buy target of 5553 with other .However it looks weak below the close of 5267 on closing basis for the sell target of 5214.
Mahindra and Mahindra Ltd
Home grown utility and tractor manufacturer Mahindra and Mahindra Ltd has reported decline in Dec sales figure by 4% as compared to the same month in last year Passenger vehicle sales (which includes utility vehicle, cars & vans) declined to 16,698 units from 18,197 units on yearly basis. Domestic sales during the month were down 1.5 percent to 34,310 units and exports fell 33 percent to 2,053 units compared with year-ago period.
Commercial vehicle sales grew by 14 percent year-on-year to 14,154 units, driven only by light commercial vehicle sales. However, 3-wheeler sales declined 17 percent to 3,458 units and medium & heavy commercial vehicle sales were down 10 percent to 476 units YoY. Meanwhile, its tractor segment registered good growth during the month as sales increased 9 percent year-on-year to 14,047 units.
Technical View On Mahindra and Mahindra Ltd.
Mahindra and Mahindra Ltd
Home grown utility and tractor manufacturer Mahindra and Mahindra Ltd has reported decline in Dec sales figure by 4% as compared to the same month in last year Passenger vehicle sales (which includes utility vehicle, cars & vans) declined to 16,698 units from 18,197 units on yearly basis. Domestic sales during the month were down 1.5 percent to 34,310 units and exports fell 33 percent to 2,053 units compared with year-ago period.
Commercial vehicle sales grew by 14 percent year-on-year to 14,154 units, driven only by light commercial vehicle sales. However, 3-wheeler sales declined 17 percent to 3,458 units and medium & heavy commercial vehicle sales were down 10 percent to 476 units YoY. Meanwhile, its tractor segment registered good growth during the month as sales increased 9 percent year-on-year to 14,047 units.
Technical View On Mahindra and Mahindra Ltd.
Mahindra and Mahindra ltd have given breakout of range of 114-1205 on daily chart and look bullish on close above 1232 for the target of 1378.
Eicher Motors Ltd
Royal Enfield, the two-wheeler division of Eicher Motors, has reported a 42 per cent jump in total sales at 57,398 units in December 2016.The two-wheeler manufacturer had sold 40,453 units in December 2015. Exports during December jumped 160% to 1,082 units compared with 416 units in December 2015Total sales in the domestic market during the April-December period of the ongoing fiscal stood at 4,88,262 units against 3,59,968 units in the year-ago period, up 36 per cent. However, Eicher Motors' commercial vehicle sales disappointed analysts, falling 21 percent year-on-year to 3,246 units in the month gone by. Exports also declined 16 percent to 700 units on yearly basis.
Technical View On Eicher Motors Ltd
Eicher Motors Ltd
Royal Enfield, the two-wheeler division of Eicher Motors, has reported a 42 per cent jump in total sales at 57,398 units in December 2016.The two-wheeler manufacturer had sold 40,453 units in December 2015. Exports during December jumped 160% to 1,082 units compared with 416 units in December 2015Total sales in the domestic market during the April-December period of the ongoing fiscal stood at 4,88,262 units against 3,59,968 units in the year-ago period, up 36 per cent. However, Eicher Motors' commercial vehicle sales disappointed analysts, falling 21 percent year-on-year to 3,246 units in the month gone by. Exports also declined 16 percent to 700 units on yearly basis.
Technical View On Eicher Motors Ltd
Eicher motors traded bullish after the declaration of Dec sales figure but with low volume. It has recovered well on daily chart around the support zone of 19930 by forming a bullish harami pattern formation. It looks bullish on close above the 22848 for the target of 23700.