PRE-MARKET INDIAN STOCKS NEWS: Automaker updates
The February vehicle sales data from various automakers in India shows significant year-on-year growth across the board, with Hero MotoCorp leading at a 43.8% increase.
Indonesian Exports YoY (Jan) Y/Y 3.39% vs. Exp. 11.07% (Prev. 11.64%)
S&P Global Platts suspends bids and offers for Middle East oil products requiring Strait of Hormuz transit
PRE-MARKET INDIAN STOCKS NEWS: Automaker updates
[MARKET ANALYSIS] DXY is marginally firmer after early haven demand and cyclical pressure owing to the Iranian conflict
[MARKET ANALYSIS] Asia-Pac stocks are mostly lower amid the conflict in Iran
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Bharti Airtel (BHARTI IS) - Co. announced a collaboration with Google to offer RCS messaging with spam filtering for users in India, aimed at enhancing user experience and reducing mobile spam and digital fraud. (Moneycontrol)
Eicher Motors (EIM IS) - Co. Feb total sales rose 11% Y/Y to 100,905 units (prev. 90,670 units). (Moneycontrol)
Escorts Kubota (ESCORTS IS) - Co. Feb total tractor sales rose 20.4% Y/Y to 10,339 units (prev. 8,590 units). (Moneycontrol)
GAIL (India) (GAIL IS) - Co. said Deepak Gupta has assumed charge as Chairman and Managing Director effective March 1 following the superannuation of Sandeep Kumar Gupta from the same position. (Moneycontrol)
Hero MotoCorp (HMCL IS) - Co. Feb total sales rose 43.8% Y/Y to 558,216 units (prev. 388,068 units). (Moneycontrol)
Hyundai Motor India (HYUN IS) - Co. Feb total sales rose 12.6% Y/Y to 66,134 units. (Moneycontrol)
Mahindra and Mahindra (MM IS) - Co. Feb total sales rose 18% Y/Y to 97,177 units (prev. 82,319 units). (Moneycontrol)
Maruti Suzuki India (MSIL IS) - Co. Feb total sales rose 7.3% Y/Y to 213,995 units (prev. 199,400 units). (Moneycontrol)
SML Isuzu (SMLMAH IS) - Co. Feb total sales rose 17% Y/Y to 1,503 units (prev. 1,288 units). (Moneycontrol)
Tata Motors (TMCV IS) - Co. Feb total sales rose 32% Y/Y to 42,940 units (prev. 32,533 units). (Moneycontrol)
TVS Motor Company (TVSL IS) - Co. Feb total sales rose 31% Y/Y to 529,000 units (prev. 403,000 units). (Moneycontrol)
This robust performance underlines a strong demand recovery in the Indian auto sector, which may influence investor sentiment and outlook on economic growth in the region. If this trend continues, it could have broader implications for manufacturing and consumer spending in India.
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