Read more about India Nippon Electricals consolidated net profit rises 15.83% in the March 2021 quarter on Business Standard. Sales rise 33.67% to Rs 150.06 crore
How to choose auto component stocks
Here are some yardstick for selecting auto component stocks
Listed vehicle manufactures are only a handful in number. But it is not so when it comes to the auto component space, which has a number of mid- and small-cap stocks. The supply chain for the auto companies is quite long, consisting of at least three tiers of vendors. Thus, the auto component industry is highly fragmented. With auto being a cyclical industry, the fortunes of many parts suppliers also wax and wane with ups and downs in the cycle. Typically, companies having a diversified client and geography base, those supplying to more than one segment of vehicles (i.e., cars, bikes, trucks, three-wheelers, tractors, off-road vehicles) as well as those that cater to both the new vehicle as well as the replacement market requirements tend to weather a storm better. How should investors go about picking auto component stocks? Here’s a guide:
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NEW DELHI: Nifty again touched its lifetime high, but shied away from breaching the crucial mark of 14,000 in today s trade and formed a Dragonfly Doji formation for the day, signalling indecisiveness in the market. Nifty continued its winning streak for the sixth consecutive session, but the recent indecisive candles call for caution with the trade.
Rohit Singre, Senior Technical Analyst at LKP Securities said, The index has reached its immediate and strong hurdle zone of 14,000-mark and if Nifty managed to hold above the 14,000-mark, then only we may see the current bullish momentum to extend further towards the 14,200 zone. Otherwise, some profit booking can be witnessed and the index is likely to trade in the range of 13,800-14,000 zone.
Sensex ends 139 points higher, Nifty holds 13,500-mark; ONGC, NTPC top gainers
A weakening rupee and lacklustre global markets weighed on sentiment on Thursday. Photo: Hemant Mishra/MintPremium
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Share Via 11 Dec 2020, 03:44:50 PM IST
Market closing
Indian benchmark equity indices slipped from record highs towards the fag-end of the session, but ended about 0.3% higher led by gains in ICICI Bank, ITC and NTPC.
Sensex closed at 46,099.01, up 139.13 or 0.30%, while Nifty ended 35.55 points or 0.26% higher at 13,513.85.
ONGC, closing over 5% higher, was the top Sensex gainer followed by NTPC, Tata Steel, Titan, ICICI Bank, ITC and Ultratech Cement. Axis Bank, M&M, TechM and Asian Paints were among the laggards.