Credit offtake by industry continues to remain sluggish. As per Reserve Bank of India (RBI), the bank loan growth to industries almost halved from 13.7% in November 2013 to 7.3% in November 2014. The slowdown has been across the board with the exception of construction, beverages & tobacco and mining & quarrying sectors. On the positive front, the credit offtake by agriculture and allied activities almost doubled to 20.2% in November 2014.
Most of the automobile stocks are trading in the green with Force Motors and TVS Motors being the biggest gainers. However, Hero MotoCorp and Mahindra & Mahindra are trading in the red. As per a leading financial daily, Maruti Suzuki reported a 13% YoY increase in passenger car sales to 98,109 units in December 2014. The growth was led by a 23% YoY increase in the sales of compact segment (Swift, Ritz, Celerio, Dzire) to 41,532 units. However, the overall growth was pulled down by a 10% YoY fall in the sales of the mini segment (Alto & WagonR) for the month. Maruti Suzuki stock is trading up 0.5%.