Auto Sector

Positive impact of the budget announcements on the cement sector.

Positive impact of the budget announcements on the Capital goods sector

Positive impact of the budget announcements on the Banking & NBFC sector.

Slightly positive impact of the budget announcements on the auto sector

Neutral impact of the budget announcements on the agriculture sector

Recommendation: BUY; Target Price: Rs 915

Volvo truck and bus sales increased by 73.4% to 189 units in January 2023.

This is the 8th consecutive interest rate hike by the US Central Bank since the beginning of 2022.

Recommendation: Reduce; Target Price: Rs 450

Domestic sales (M&HCV and LCV) were 16,198 units in the reporting month, a 27% increase from 12,709 units in January 2022.