March auto sales may be mixed amid high inventory, but these 2 stocks remain brokerages top picks
Passenger vehicles and two-wheeler sales are expected to be a mixed bag while the commercial vehicle segment is expected to register weak growth during March. Automobile sales in March are expected to be mixed for the sixth consecutive month, citing high inventories, rising ownership cost and deferred purchases during general elections, brokerages said. Passenger vehicles and two-wheeler sales are expected to be a mixed bag, while the commercial vehicle segment is expected to register weak growth during the month. In a recent report, Emkay said channel checks indicate rising ownership cost, deferred purchases during elections and selective financing by non-banking financial companies (NBFCs) are constraining volume performance across the automotive segments in the near term. In the last year, the sector has been worst performer, with the Nifty Auto index falling nearly 24 percent, amid a liquidity crisis and weak festive season. In March itself, the index was ...