The first trading day (Monday) for October would be influenced by volume sales data of automobile companies as stock and currency markets have shrugged off the uncertainty factor triggered by the surgical strikes on terror launch pads along the Line of Control (LoC) in Pakistan-occupied-Kashmir.
While the focus will be more on car manufacturers, those in the two-wheeler space such as Bajaj Auto, TVS Motor Co. and Hero Motocorp will also be in limelight, after the segment recorded 16.5 percent growth in August 2016 at 76.67 lakh units as against 65.81 lakh two-wheelers sold in August 2015.
The first company to report two-wheeler sales is Eicher Motors Ltd. (EML) that manufactures Royal Enfield motorcycles. The company reported 29.7 percent growth in domestic sales at 56,958 units while exports grew 18 percent to 884 units on a year-on-year basis.
On Friday, Hero Motocorp shares closed almost flat at Rs 3,414.35 apiece, while TVS Motor Co. gained 5.01 percent to end at Rs 365.60 and Bajaj Auto edged 0.44 percent lower to Rs 2,832.15. Pune-based Bajaj Auto will be declaring its second quarter results on October 28, 2016.
The BSE Auto outperformed the BSE Sensex on Friday, closing with a gain of 1.34 percent while the Sensex ended 0.14 percent higher at 27,865.
August sales
Hero Motocorp posted 28 percent growth to 6.16 lakh units, while Honda Motorcycles and Scooters India (HMSI) sold 24 percent more at 4.92 lakh units. Bajaj Auto saw domestic two-wheeler sales rise 27 percent to 1.74 lakh units but exports plunged 31 percent to 1.05 lakh units.
For TVS Motor Co., overall two-wheeler sales grew 23.5 percent to 2.67 lakh units from 2.16 lakh units in August last year. However, scooter sales grew at a slower pace of 5 percent to 76,572 units.
India Yamaha Motor Pvt. Ltd. sold 74,868 two-wheelers in domestic sales (including Nepal) in August this year, 22 percent more than 61,440 units sold last August.
