India's two and four-wheeler stocks fork after divergent sales data

JK Tyre & Industries

05/07/2024 08:22

** Indian auto stocks  .NIFTYAUTO  flat
    ** But two-wheeler stocks gain, while four-wheelers stall
    ** Drop in retail sales of cars steepens in June, data shows
    ** Gains in two-wheeler sales, meanwhile, acclerates
    ** TVS Motor's  TVSM.NS  2% jump lead two-wheelers' gains
    ** Eicher Motors  EICH.NS  and Bajaj Auto  BAJA.NS  up nearly 1%;
Hero MotoCorp  HROM.NS  flat
    ** Mahindra and Mahindra's  MAHH.NS  1.3% drop steepest among car
makers
    ** Tata Motors  TAMO.NS  and Maruti Suzuki  MRTI.NS  flat
    ** Tyremakers MRF  MRF.NS  and JK Tyre  JKIN.NS  flat; Ceat  CEAT.NS 
up 0.5%
    ** Still, Mahindra's 66% gain is highest on index among automakers
    
 Category                   June % change           May % change
 Overall sales              0.7                     2.6
 Cars                       -6.8                    -1
 Two-wheelers               4.7                     2.5
 
 (Reporting by Savio Dsouza)
 ((savio.dsouza@thomsonreuters.com;))