By Aditya Raghunath
Investing.com -- Auto companies have had a rough April and May in 2021. The second pandemic wave caused these months to almost be a washout as people stayed home and couldn’t travel. Stock prices of almost all the companies in this space have fallen. Will the second half of the calendar year be better for them?
Kotak Securities said that it expects a downward revision in the sector and has cut its domestic two-wheeler growth to 12% from 15%. However, it is optimistic on passenger vehicles and tractors. Here are five stocks in this space that are down 15-20% from their 52-week highs:
- Maruti Suzuki India Ltd. (NS: MRTI )
52-Week High: Rs 8,239
Closing price on June 21: Rs 6,899.9
Percentage difference: Down 16.25%
- Hero MotoCorp Ltd (NS: HROM )
52-Week High: Rs 3,629.05
Closing price on June 21: Rs 2,894.85
Percentage difference: Down 20.2%
- Ashok Leyland Ltd. (NS: ASOK )
52-Week High: Rs 138.9
Closing price on June 21: Rs 117.25
Percentage difference: Down 15.5%
- Mahindra & Mahindra Ltd. (NS: MAHM )
52-Week High: Rs 952.05
Closing price on June 21: Rs 776.85
Percentage difference: Down 18.4%
- M.R.F. Ltd. (NS: MRF )
52-Week High: Rs 98,599.85
Closing price on June 21: Rs 81,777.05
Percentage difference: Down 17%
Two stocks have recovered smartly despite the pandemic and are only 7.3% each below their 52-week highs. TVS Motor Company Ltd. (NS: TVSM ) closed June 21 on Rs 616.75 while Tata Motors Ltd (NS: TAMO ) closed at Rs 334.3 on June 21.
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"OVERSIGHT" only in auto industryLike 1