Buy / Sell M&M share
Auto stocks like M&M, Eicher Motors, and Maruti have gained between 5 percent and 15 percent so far in April. For the year, Bajaj Auto, M&M and Maruti are the biggest gainers, up between 8 percent and 15 percent.
Why are auto stocks picking up pace?
The semiconductor chip supply situation has been improving over the past few months, as stated by the companies. The demand has picked up significantly, and a lot of the new launches are seeing a high waiting period.
Besides, the companies have also managed to take adequate price hikes to pass on the higher raw material costs.
Watch the accompanying video of CNBC-TV18’s Sonia Shenoy for more details.