Also, auto makers’ earnings are likely to be boosted by volume at the higher average price realisation as the share of higher priced vehicles improves, coupled by boost from margin expansion owing to moderating raw material prices.
Synopsis
Local investors are also showing confidence in auto stocks like their foreign counterparts. The allocation to auto stocks in local funds rose to a multi-month high of 8.2% in June 2023, data compiled by Motilal Oswal show.
ET Intelligence Group: Institutional investors are raising allocation to the auto sector at full throttle following strong earnings growth in the current fiscal year that could add around 3 percentage points to the Nifty’s earnings. The weight of the auto companies in the portfolios of foreign investors rose to a record high of 6.5% at the end of June 2023, data from NSDL show. Local investors are also showing confidence in auto stocks like
BY
ET Bureau
3 mins read, Last Updated:
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