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Auto stocks rally on rural hopes, earnings outlook

Auto stocks rally on rural hopes, earnings outlook

ET Intelligence Group: Auto stocks reform 3-6 percent on Tuesday on buying support from institutional buyers who had been attracted to the attractive relatives valuations against the foundation of  higher earnings awareness, compared with stocks trading at a similar worth, but with dimmed profits outlook. Further, some of the stocks dependent on rural economy caught the investors

Auto stocks such as Hero MotoCorp, Mahinda & Mahindra, Bajaj Car offer attractive relative worth compared with pharmaceutical stocks and options such as Sun Pharmaceutical products, Dr Reddy's Laboratories, Lupin and IT majors such as Tata Consultancy Companies (TCS) and Infosys.

For example, Mahindra & Mahindra increased volume growth guidance for its tractor segment the current fiscal year. These types of factors probably attract further investment in the sector.