Mumbai: Shares of Maruti Suzuki India rose 1.4 per cent, bucking the weak trend seen among peers, after reporting 20 per cent growth in vehicle sales for the month of June.
Traders say Maruti is a relatively safer pick considering recent brokerage upgrades and stellar performance for the month of June, while sales of Tata Motors, Bajaj Auto and Hero MotoCorp have come in slightly below expectations.
Shares in Tata Motors fell 1.5 per cent after sales in June declined by 3 per cent.
"Our interactions with dealers indicate lower enquiries and conversion rates from freight operators," said domestic brokerage Avendus.
Avendus added that moderation in domestic sales volumes for TVS Motors may continue till the launch of new products, while its export volumes would remain under pressure due to hike in import duty by Sri Lanka.
Shares in TVS Motors fell 2.6 per cent after it reported a fall of 7.5 per cent in June sales.
Copyright: Thomson Reuters 2012
Traders say Maruti is a relatively safer pick considering recent brokerage upgrades and stellar performance for the month of June, while sales of Tata Motors, Bajaj Auto and Hero MotoCorp have come in slightly below expectations.
Shares in Tata Motors fell 1.5 per cent after sales in June declined by 3 per cent.
"Our interactions with dealers indicate lower enquiries and conversion rates from freight operators," said domestic brokerage Avendus.
Avendus added that moderation in domestic sales volumes for TVS Motors may continue till the launch of new products, while its export volumes would remain under pressure due to hike in import duty by Sri Lanka.
Shares in TVS Motors fell 2.6 per cent after it reported a fall of 7.5 per cent in June sales.
Copyright: Thomson Reuters 2012
