Auto stocks: Stock market update: Auto shares up on strong Sept sales numbers
October 1, 2020
NEW DELHI: Nifty Auto index was trading with gains at 12:26PM (IST) on Thursday.
Shares of Bajaj Auto (up 5.76 per cent), TVS Motor Company (up 3.98 per cent), Ashok Leyland (up 2.08 per cent), Maruti Suzuki (up 1.71 per cent) and MRF (up 1.62 per cent) were among the top gainers.
While Amara Raja Batteries (down 0.51 per cent), Balkrishna Industries (down 0.37 per cent) and Eicher Motors (down 0.13 per cent) were the top losers in the index.
The Nifty Auto index was trading 1.63 per cent up at 8036.75 around 12:26PM.
September auto sales reflect a strong rising trend in the passenger vehicles (PVs) and tractor segments. The country’s largest automaker Maruti Suzuki reported a 30.8 per cent YoY surge to 1,60,442 units in September 2020.
Tractor sales numbers for Escorts ltd. soared 9.2 per cent YoY to 11,851 units riding on a strong rural demand. Two wheelers and three wheelers also saw a rising demand as Bajaj Auto reported a 10 per cent YoY leap to 4,41,306 units in September 2020.
Bucking the trend, MG Motors reported a 2.72 per cent YoY dip to 2,536 units for the month.
Benchmark NSE Nifty50 index was up 157.50 points at 11405.05, while the BSE Sensex was up 564.59 points at 38632.52.
Among the 50 stocks in the Nifty index, 43 were trading in the green, while 7 were in the red.
Shares of Vodafone Idea, IDFC First Bank Ltd., Alok Industries, YES Bank and PNB were among the most traded shares on the NSE.
Shares of Ruchi Soya Inds, Welspun India, Indiabulls Ventures, APL Apollo Tube and Adani Green Energy Ltd. hit their fresh 52 week high in today’s trade, while Mittal Life Style Ltd., Vasa Retail & Overseas Ltd., Banka Bioloo Ltd., S & S Power Switchgear Ltd., Mangalam Global Enterprise Ltd., Laurus Labs Ltd., Castex Technologies Ltd., Zenith Exports Ltd., Shah Alloys Ltd. and Twentyfirst Century Management Services Ltd. hit fresh 52 week low in trade.