M&M, Tata Motors hit 52-week high; Maruti Suzuki, Hero MotoCorp decline on muted June sales

Shares of automobile heavyweights such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra and Hero MotoCorp remained in on focus July 3, a day after the automobile manufacturers released sales data for the month of June.

Following the development, the share price of Maruti Suzuki, and Hero MotoCorp dropped between 0.6% and 1.2% on the BSE, while Mahindra & Mahindra shares surged 3% to hit a 52-week high. 

M&M shares rose as much as 3.09% to hit a record high of ₹1,498.55 apiece on the BSE, after the company reported a 15% increase in sales to 62,429 units, led by SUV segment. The company’s SUV sales grew 22% YoY to 32,285 units during the month under review, as against 26,880 units sold in the same period last year.

Meanwhile, the share price of Maruti Suzuki, the country’s largest automobile manufacturer, declined as much as 1.2% to hit an intraday low of ₹9,669.95 after the company’s sales surged marginally by 2% year-on-year (YoY) to 1,59,418 units as against 1,55,857 units in the month of June. The company sold 1,36,019 units of passenger vehicles in the domestic market during the month under review. However, despite dismal sales in passenger vehicles during the month under review, the sales of SUVs witnessed substantial growth. Sales of the seven utility vehicles under Maruti’s portfolio including the soon-to-be-launched MPV Invicto, surged 130% to 43,404 units as against 18,860 units in the same period last year.

Meanwhile, the share price of Tata Motors surged as much as 1.1% to hit a 52-week high of ₹602.50 apiece on the BSE before plunging 0.6% to hit an intraday low of ₹591.95, after the company reported 2% YoY decline in domestic sales to 2,22,345 units in June as against 2,25,828 units in the same period last year. Of this, the total domestic passenger vehicle sales were up 5% to 47,235 units as against 45,197 units in the same period last year. However, the company’s electric vehicle (EV) sales surged 95% year-on-year (YoY) to 7,025 units in June as against 3,608 units in the same period last year. In the June quarter, Tata Motors registered an 8% YoY increase in sales to 1,40,450 units as against 1,30,125 units in the same period last year. Of this, in the EV segment posted a 105% increase in sales to 19,346 units led by a strong market response to Tiago EV, despite a sustained demand for electric vehicles.

The share price of Hero MotoCorp plunged 1.5% to hit an intraday low of ₹2,863.90 after the company’s total sales declined by 10% to 4,36,993 units as against 4,84,867 units in the same period last year.