Stocks of auto companies on Monday rallied on the back of strong sales figures for the month of September. The stock of Ashok Leyland rose around 4% to close at R82.90, making it the best performer in the BSE Auto Index. The company reported an 18% decline in its sales for September. This was followed by Maruti Suzuki whose stock was up 3.70% to close at R5,681.85. The auto major reported a 31% growth in its total sales during the same period. Stocks of other major auto companies, including Motherson Sumi, Eicher Motors and Hero Moto, were up more than 3%. Mahindra and Mahindra reported a growth of around 70% in sales for September. This was followed by Eicher Motors and Maruti Suzuki.
At the other end of the spectrum, Bajaj Auto reported a 2% decline in sales, stock of the auto firm closed 1.52% at R2,875.3 The BSE Auto index in 2016 has so far been up 22.89%. The Sensex and Nifty50, during the same period, rose 8.14% and 9.96% respectively.