INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Most auto stocks were trading with gains in the morning session of trade on Monday, buoyed by their August sales numbers
The Nifty Auto index was trading 0.77 per cent up at 11,094 around 10:10 am
Ashok Leyland (up 4.07 per cent) was the top gainer in the pack.
Ashok Leyland on Saturday reported a 27 per cent increase in total sales
at 17,386 units in August.
Eicher Motors (up 2.21 per cent), Tata Motors (DVR) (up 1.97 per cent) and Tata Motors (up 1.59 per cent) climbed
up to 2 per cent.
Royal Enfield, the two-wheeler division of Eicher Motors, on Saturday reported a 2 per cent growth in total sales at
69,377 units in August, PTI reported
Tata Motors' domestic sales for the month of August stood at 58,262 units, up by 27 per cent
Mahindra Mahindra reported a 14 per cent increase in total sales at 48,324, whereas Hero MotoCorp reported a 0.92 per cent rise in total
sales at 685,047 units in August
Shares of Bajaj Auto (up 1.35 per cent), Bosch (up 1.10 per cent), Exide Industries (up 1 per cent), Amara Raja Batteries (up 0.87 per
cent), Mahindra Mahindra (up 0.81 per cent) and Hero MotoCorp (up 0.68 per cent) rose in that order
Apollo Tyres (up 0.62 per cent), Bharat Forge (up 0.46 per cent), TVS Motor Company (up 0.42 per cent) and Motherson Sumi Systems (up 0.31
per cent) too were in the green
However, shares of Maruti Suzuki India (down 0.62 per cent) fell after it reported a drop of 3.40 per cent in August sales
The monthly sales figure, which came out on Saturday, stood at 1,58,189 units
The company sold 1,63,701 units in the same month last year
Market was in the positive terrain as strong GDP numbers and rupee's improved health came as a welcome relief for investors.
Benchmark
NSE Nifty50 index was up 36 points at 11,716, while the BSE Sensex was up 127 points at 38,773
Among the 50 stocks in the Nifty index, 33 were trading in the green, while 17 were in the red.
