The company’s operating profit grew by 15% even though the tractor volume dropped by 3.5% for the December quarter. It suggests that the automotive segment has gained enough heft to deliver growth and bring counter-cyclicality to the company’s earnings. A few years ago, the automotive division contributed two-thirds to the revenue, but only one-third to the operating profit. The gap is narrowing gradually.
What to do with Bajaj Auto, DMart, Manappuram Finance and 3 other stocks? Aamar Deo of Angel One decodes
Most of the technical and derivatives indicators point towards a consolidation this week, with markets likely to be further driven by quarterly earnings, FII flows,