Muted demand stalls ancillary firms'engine
Business Standard|September 06, 2024
Swings in input costs key monitorable for these firms: Analysts
SIRALI GUPTA

With wholesale passenger vehicle (PV) sales declining for a second consecutive month in August, analysts forecast a challenging near-term outlook for automotive (auto) ancillary companies.

Saji John, senior research analyst at Geojit Financial Services, believes that weak domestic demand in some segments, coupled with supply-chain issues, may cause auto ancillary stocks to remain sideways in the immediate term. "The near-term market sentiment is cautious for the sector due to high valuations. Companies with a high PV and commercial vehicle mix face near-term challenges," he said.

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