With automotive companies releasing their sales figures, here are the key stocks to watch out for on Monday.
Tata Motors | Tata Motors’ total sales for August 2024 were 71,693 units, down from 78,010 units in August 2023. Domestic sales fell 8% year-on-year to 70,006 units, while commercial vehicle (CV) sales declined 15% to 27,207 units, with notable drops in heavy and small CVs. Domestic passenger vehicles (PVs) including electric vehicle (EV) sales also decreased by 3% to 44,142 units, while overall PV sales including EVs slipped a little to 5,935 units. EV sales including both domestic and international dipped to 5,935 units from 6,236 units in August 2023.
Raymond | With the completion of the demerger of its lifestyle and real estate verticals, the newly formed Raymond Lifestyle is expected to be listed within the week. With this, Raymond is aiming for a stable 15% sales growth and a similar increase in pre-tax earnings.
OIL India | Oil India Limited (OIL) and Indra Dhanus Gas Grid (IGGL) signed the hook-up agreements for connecting OIL’s natural gas fields of upper Assam with the Duliajan Feeder Line of the North-East Gas Grid and also for evacuation of natural gas to be produced from OIL’s DSF block in Tripura through IGGL’s 12” NB x 86 km Agartala- Tulamura natural gas pipeline.
TVS Motor | The company announced a 13% year-on-year increase in total sales for August to 3,91,588 units. Two-wheeler sales grew by 14% from last year to 3,78,841 units sold in August 2024. Domestic two-wheeler sales rose by 13% to 2,89,073 units, while exports surged by 14%, reaching 99,976 units compared to 87,515 units last year.
Maruti Suzuki | Total sales dipped 4% year-on-year for August, totaling 1,81,782 units compared to 1,89,082 units last year. Domestic passenger vehicle sales fell 8% to 1,43,075 units, driven by a 20% decrease in compact car sales. Despite declines in mini and compact car segments, utility vehicles saw a 7% increase in sales. Exports rose to 26,003 units, up from 24,614 units in the previous year.
Biocon | Biocon Pharma Limited, a wholly owned subsidiary of the Company, has secured approval from the U.S. Food and Drug Administration (FDA) for its Sacubitril/Valsartan Tablets in three strengths: 24 mg/26 mg, 49 mg/51 mg, and 97 mg/103 mg. This combination therapy is used for treating chronic heart failure in adults and pediatric patients over one year old, aiming to reduce the risk of death and hospitalisation. The new approval expands Biocon’s portfolio of complex, vertically integrated drug products, highlighting its growing presence in the pharmaceutical market.
MOIL | MOIL India has announced a price reduction for its manganese ore products, effective September 1, 2024. Prices for Ferro grades with manganese content of Mn-44% and above have been cut by 20%, while other Ferro grades and SMGR, Fines, and Chemical grades see a 15% decrease. Additionally, the basic price for Electrolytic Manganese Dioxide (EMD) has been lowered by ₹5,000 per metric ton. This adjustment aligns with the company’s ongoing pricing strategy and market conditions.
