Shares of auto stocks, including those of two wheelers lost ground today as analysts believe that sales volumes for auto makers are going to disappoint going forward.
Shares of Tata Motors was down 1.88%, while Mahindra and Mahindra was lower by 1.77% and Maruti by 0.55%. Two wheeler stocks too declined with Hero Motor Corp dropping 1.2% and Bajaj Auto dropping by almost one per cent.
The two wheeler segment has been showing single digit growths, while commercial vehicles have also seen modest growths in sales.
All eyes would now be on the results to be posted by auto companies. Bajaj Auto will kick-start the auto earning seasons by declaring results today, while Hero Motor is expected to declare its results tomorrow.
Sales and profits are expected to be flattish for most of the auto companies.
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