Auto stocks gain as industry expected to grow at high single-digit levels across segments in FY24
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Selected auto stocks were trading higher on the BSE, as domestic credit ratings agency ICRA in its latest report has said the domestic automotive industry has seen a healthy revival in the current fiscal, aided by a recovery in economic activities and increased mobility, and is expected to grow at high single-digit levels across segments in FY24. It stated, category-wise, passenger and commercial vehicle volumes could see a growth of 6-9 per cent and 7-10 per cent, respectively, the two-wheeler and tractors are estimated to grow at 6-9 per cent and 4-6 per cent, respectively, in the financial year starting April 2023.
TVS Motor Company is currently trading at Rs. 1012.50, up by 10.35 points or 1.03% from its previous closing of Rs. 1002.15 on the BSE.
Maruti Suzuki India is currently trading at Rs. 8500.35, up by 4.30 points or 0.05 % from its previous closing of Rs. 8496.05 on the BSE.
Atul Auto is currently trading at Rs. 358.85, up by 20.35 points or 6.01 % from its previous closing of Rs. 338.50 on the BSE.
