The production of heavy trucks is likely to rebound.
Domestic volumes are expected to grow in low double digits in the next three years.
To justify the current valuations, TVS needs to double Ebitda margin by 2020.
JLR's underlying operating profit margin dropped 460 basis points from a year earlier to 7.9 per cent in the last quarter.
Apart from domestic traction, the global market, too, offers growth opportunities.
In its investigations, the DGAD found that dumping margins for Chinese firms has been up to 40%.
Maruti Suzuki is the most likely candidate for a dividend payout hike in the near term.
At the upper band of the price band, it is valued at 18.8 times its FY17 earnings.
The company had maintained its average inventory level of 5-6 weeks in May-June.
The management has changed its focus to improving the balance sheet over chasing profit growth.
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