In this gloom and doom surrounding the auto stocks, Atul Auto is one bright star on the horizon today. Rising up almost 9.5% to Rs.247, the stock has outperformed the sector by over 2%.
This is probably the only auto company, over the last couple of months to report an increase in sales for September.
The company posted a 5% (YoY) rise in Sept sales at 5306 units. In the month of August, it had sold 3681 units, which is a good 44% sequential jump.
With majority of the months from April to Sept showing a decline, the total sales for the 6 months of FY21 were down 5% (YoY) at 22,773 units.
The company manufactures three-wheelers from its unit at Rajkot, Gujarat. And it is only company to make autos across all fuel ranges – diesel, petrol, CNG, LPG and electric.