Shares in two-wheeler manufacturers Bajaj Auto,Hero MotorCorp and TVS Motor were trading lower on concerns about slow down in sales growth in domestic market.
The companies reported a sluggish December month vehicle sales,dealers said.
We now expect 10 percent growth for 2-wheeler makers versus 12-13 percent projected growth for FY13,Deepak Jain,auto analyst at brokerage Sharekhan said.
Adds,we have cut Bajaj Auto’s earnings growth estimate by 10 percent from 13 percent projected for FY13,Jain added,indicating he expects a cyclical downturn for next 9 months for two-wheelers.
At 12.15 p.m.,shares in Bajaj Auto,Hero MotorCorp and TVS Motors were trading lower by 2.5-4.5 percent.
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