|Bid||7,111.40 x 0|
|Ask||7,111.75 x 0|
|Day's range||6,975.20 - 7,141.80|
|52-week range||4,001.10 - 7,569.90|
|Beta (5Y monthly)||1.11|
|PE ratio (TTM)||52.92|
|Earnings date||26-Jan-2021 - 30-Jan-2021|
|Forward dividend & yield||60.00 (0.85%)|
|1y target est||8,266.72|
Retail car sales in India fell by 8.8% in October and motorbikes by 26.8% from a year ago, with purchasing slow to recover from the effects of the ongoing COVID-19 pandemic, data released by automobile dealers on Monday showed. The sales numbers, based on vehicles registered in the country, were higher than September as more people visited car showrooms, but the Federation of Automobile Dealers Association (FADA) warned that momentum is slow. New cars fared better than older models, entry-level motorcycles saw poor demand and discounts offered by automakers in October 2019 were higher - all of which affected sales this year, FADA President Vinkesh Gulati said in a statement.
Suzuki Motor Corp on Thursday forecast operating profit to fall by a quarter to 160 billion yen ($1.5 billion) in the year to March as sales, including in its key Indian market, shrink amid the coronavirus pandemic. Suzuki's Indian car sales in the first half of the year fell 36% to 432,000 vehicles, and dipped in other markets, including Japan, Indonesia and Europe as people stay away from dealerships. "We don't know what will happen with the coronavirus in India or what measures the government will implement, so that makes the market difficult to predict," Suzuki's president, Toshihiro Suzuki said in a conference call.
Maruti Suzuki India Ltd, India's biggest carmaker, said on Thursday there was no immediate need for the government to cut taxes on cars to boost sales even as it warned of uncertainty in demand after December. The pandemic hit at a time when companies in the sector were already seeing weak demand and an inventory pile up due to an economic slowdown last year. Constraints in ramping up production are having a bigger impact on sales and there is no real slowdown in demand, Chairman R C Bhargava told reporters after Maruti Suzuki reported a 1% rise in quarterly profit as car buyers returned to showrooms after the lifting of coronavirus-related lockdowns.