The consolidated operating profit of the Gurugram headquartered Apollo Tyres rose 63% year-on-year to Rs 1,159 crore in the September quarter driven by improving gross margin and cost reduction efforts. Revenue grew by 5% to Rs 6,279 crore. The operating margin expanded by 650 basis points year-on-year to 18.5%.
The auto space is back in the game. The decline in major commodity prices has been fruitful and margins have already started to improve. Will the upcoming festive season be a game changer for the auto space?
As the monthly auto sales numbers got announced yesterday, there was a higher amount of activity in the auto stocks. While monthly sales do hold relevance, more important is what is happening on the EV front by large companies. This normally would come when quarterly results are announced. While some companies are opening their EV strategy, they are very cautious in their approach. That is why analysts are bullish on few of the stocks from the sector as a whole.
Indian equities finished Wednesday positively, with Nifty up 0.5% to over 19,750 levels, ahead of the release of the Fed meeting outcome. Sectoral indices for Nifty PSU Bank, FMCG, and Realty had the highest gains, while Nifty Consumer Durable and Auto Index went down. Analysts propose that there will potentially
We are seeing good sales from Mahindra & Mahindra, although sales are not as per the mark in Maruti and other stocks but the chart patterns are saying a completely different picture.