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Meanwhile, Axis Securities sees auto OEMs revenue growing by 8% quarter-on-quarter led by double-digit growth in CV and PV segments. The strong show by CVs and PVs could be partially offset by lower growth in the two-wheeler segment and tractors.

Meanwhile, Axis Securities sees auto OEMs revenue growing by 8% quarter-on-quarter led by double-digit growth in CV and PV segments. The strong show by CVs and PVs could be partially offset by lower growth in the two-wheeler segment and tractors.

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The stock quoted a 52-week high price of Rs 1704.9 and low of Rs 1005.7.

A total of 377,003 shares changed hands on the counter till 02:08PM (IST).

The stock traded at a P/E multiple of 27.02, while the price-to-book value ratio stood at 5.01.

We saw a domestic growth of about 12% in India in the last year. We do expect, as per various estimates, a growth of close to 8% in FY24. As far as export volumes are concerned, post removal of export duty in November 22, we have seen a steady increase of exports from the country and after five months of being a net importer, India has turned a net exporter in the month of March. Q3 to Q4, our exports have gone up from 1.3 million to 2.3 million as a country.

“This sustained performance of GMR Infra stock has been observed since early October 2021, illustrating a significant strength despite the overall correction in the market,” Omkar Patil, Technical Research Associate at GEPL Capital, said.

Sanjeev Sanyal, a member of PM EAC, believes that there is no galloping inflation in the system, and there are pressures, a lot of which are imported from oil prices. He thinks that the Reserve Bank of India (RBI) correctly paused the rate hikes and there is a case for holding horses and letting the old hikes speed through as the WPI has come down significantly.