AUTO PARTS COST
Shares of auto ancillaries companies were trading high as investors and a few funds started value-buying on the back of strong auto sales numbers and better-than-expected earnings of Tata Motors, four dealers said. Auto sales in India hit a record high in January.
Tata Motors said on Friday surging sales at its luxury Jaguar and Land Rover (JLR) unit helped quadruple fourth-quarter profit and pledged to lift prices aggressively to offset rising raw material costs.
The increase in sales should definitely reflect in revenues for the ancillary makers, said an analyst with a local brokerage. At 11.31 a.m., shares of Clutch Auto, Amtek Auto, Automotive Axles and Amara Raja Batteries were up 3-11 percent
JITENDRA KUMAR SINGH
PGDM SEM-2
Tata Motors said on Friday surging sales at its luxury Jaguar and Land Rover (JLR) unit helped quadruple fourth-quarter profit and pledged to lift prices aggressively to offset rising raw material costs.
The increase in sales should definitely reflect in revenues for the ancillary makers, said an analyst with a local brokerage. At 11.31 a.m., shares of Clutch Auto, Amtek Auto, Automotive Axles and Amara Raja Batteries were up 3-11 percent
JITENDRA KUMAR SINGH
PGDM SEM-2
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