Tata Motors vs Bajaj Auto: Which auto stock should you bet on for long-term? Here's a 5-point analysis
Tata Motors vs Bajaj Auto: Leading Indian auto majors Tata Motors and Bajaj Auto have received bullish upgrades on their respective stocks from domestic brokerage firms after investors recently renewed their buying interest in the last few sessions. The two companies face fresh competition from Mahindra & Mahindra (M&M) and soon-to-be-listed Hyundai Motor India.
Recently, Tata Motors lost its spot as the second-largest auto manufacturer in terms of market capitalization (mcap) to M&M, among the listed companies on D-Street.The Nifty Auto index settled 0.69 per cent lower at 25,092.30 on Friday, June 21, against the domestic benchmark Nifty 50 which closed 0.28 per cent lower at 23,501.01 succumbing to profit booking after hitting all-time highs. However, the frontline indices locked in a third straight week of gains powered by a rally in financials and the return of foreign investors.The Nifty's 0.15 per cent rise this four-day week was less than the 0.75 per cent it rose last week and its 3.37 per cent surge the week before.
The index traded in a sub-300 point range for the second week in a row. The small- and mid-caps were muted on the day, but also rose for a third straight week.‘’Nifty has been struggling to maintain levels above 23,600, although it remains steady above the support zone indicated by moving averages.
We recommend focusing on selective stock picking during this period and using it as an opportunity to accumulate high-quality stocks. Besides domestic factors, global market performance will also be closely watched in the absence of any major events,'' said Ajit Mishra – SVP, Research, Religare Broking Ltd.On Friday, shares of Tata Motors opened at ₹979.90 and hit an intra day high of ₹981.00 against a
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