5 auto stocks to watch out for on July 28

As leading automakers announced their first quarter financial results in the last 2 days, let us see which stocks in the Auto sector investors should keep an eye on.

Maruti Suzuki India Ltd on July 27 announced a 129% increase in its consolidated net profit to Rs 1,005 crore for the first quarter ended June 30 on a YoY basis on account of low base. In the June quarter, its net sales increased to Rs 25,289 crore from Rs 16,800 crore in the corresponding quarter of 2021–22. It sold 4,67,931 vehicles during the June quarter against 3,53,614 units in the year-ago period. Sales in the domestic market stood at 3,98,494 units, while exports were 69,437 units, the highest ever in any quarter. At 11.20 am, the shares of Maruti Suzuki are quoting at Rs 8705, up by 0.52% or Rs 44.95 per share.

The automobile arm of the Tata Group - Tata Motors announced its financial results for the First quarter of FY23 on July 27. The company posted a consolidated loss of Rs (4987) crore which was significantly more than last quarter where it posted a loss of Rs (1099) crore, attributable to weak JLR performance Revenue grew to Rs 71228 crore which was up by 8.7% YoY but sequentially down by 8.5%. At 11.20 am shares of Tata Motors were quoting at Rs 445.60 per share with a gain of 0.37% over its previous close.

Bajaj Auto Ltd on July 26 announced its Q1 results, posting a consolidated profit of Rs 1,163 crore up by 9.8% YoY but down by 20% QoQ. Consolidated revenue stood at Rs 7769 crore up by 7.7% YoY and marginally higher from Rs 7,728 crore in Q4FY22. The favourable results were on account of higher realisation (price hikes) and increased export contribution. At 11.20 am shares of Bajaj Auto were quoting at Rs 3900.25 per share with a gain of 0.58 % over its previous close.

Hero Motocorp Ltd announced in a press release on July 27 that Accenture has been selected by it to scale up and enhance its future-ready supply chain. The program will include supply chain strategy, planning optimization, logistics cost optimization and development of an end-to-end digital supply chain suite, thereby enabling Hero MotoCorp to manage the increasing complexity in products, markets, and supply chain networks while driving cost reduction in an inflationary environment. In the morning session, the shares of Hero Motocorp were trading at Rs 2803.50, a gain of 0.72% over its previous close. 

Balkrishna Industries has intimated the record date as August 13, 2022, for payment of interim dividend to equity shareholders whose name appears on the Register of Members of the company on that date. Declaration of 1st Interim Dividend on equity shares for the FY 2022-23 will be subject to approval by the board in the meeting scheduled to be held on August 4, 2022. In the morning session, the shares of Balkrishna Industries are trading at Rs 2281.25 a gain of  0.63% over its previous close.