LTP: Rs 569.95
M Cap: Rs 30,111 cr
The country’s biggest commercial vehicle manufacturer, which holds close to 65 per cent share of the market, saw delivery volumes rise 88 per cent with close to 1,561,523 shares changing hands. The company has seen one of the best monthly sales in recent time in October, with sales growing 35 per cent to 53,404 units. Passenger vehicle sales in the domestic market grew by 17.61 per cent to 20,011 units last month. The company doubled its quarterly profit to Rs 729 crore owing to softer raw material costs and a revival in vehicle sales. According to Sahil Kedia of Enam Securities, the recovery in CV sales is expected to continue in the second half of the fiscal. However, Ebitda margins will be under pressure owing to higher commodity costs.
0 comments:
Post a Comment