February Auto Wholesale Volume Update - Positive Momentum To Continue: IDBI Capital
Motorcyclists sit in traffic at night in Nagpur, India. (Photographer Dhiraj Singh/Bloomberg)

February Auto Wholesale Volume Update - Positive Momentum To Continue: IDBI Capital

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

In February 2021, original equipment manufacturers like Maruti Suzuki India Ltd., Hero MotoCorp Ltd., TVS Motor Company Ltd., Ashok Leyland Ltd., Escorts Ltd. and Mahindra and Mahindra Ltd. (farm equipment segment) has reported better than expected numbers while Bajaj Auto Ltd., Royal Enfield has reported a marginal growth.

Tractor demand continues to be strong due to healthy macroeconomic factors, record rabi crop sowing, high reservoir levels and higher liquidity in the hands of farmers with timely kharif procurement.

We believe demand continues to remain strong on account of better positive sentiments and more economic activity.

Click on the attachment to read the full report:

IDBI Capital Automobile-Monthly Sales Update-Feb 2021.pdf

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