Most management teams highlighted a moderation in domestic demand, particularly in commercial vehicles and passenger vehicles, with volume guidance revised downward for high-growth two-wheelers, according to the brokerage. Auto ancillary firms with overseas exposure also saw weak demand. While raw material costs remain stable, benefits from commodity softening are being offset by rising operational costs.
MSCI rebalancing on Monday: Adani Energy, Groww set for big inflows; RIL, Jio Financial may face outflows
MSCI’s latest rebalancing is set to drive heightened trading activity in several Indian stocks on Monday, with revised weights taking effect from September 1. The