Auto stocks were hogging limelight on Monday amid encouraging September sales data announcement.
Auto stocks were hogging limelight on Monday amid encouraging September sales data announcement. Shares of Maruti Suzuki India were trading 3.87 per cent up at Rs 5,691 and Eicher Motors was trading 1.84 per cent up at Rs 25,377. The country’s largest carmaker Maruti Suzuki on Sunday registered a 31.1 per cent growth in its passenger vehicle sales in September at 1,49,143 units, riding on its highest-ever domestic sales. Maruti Suzuki also hit its new all-time high of Rs 5707.25 in the morning deals.
Eicher Motors sold 57,842 units of Royal Enfield motorcyles in September 2016 against 44,491 units in the same month last year. Domestic sales of the company surged by 30 per cent to 56,958 units as against 43,741 units in the same month a year ago. Exports increased by 18 per cent to 884 units, compared to 750 units in the corresponding month last year.
Shares of Tata Motors also soared as much as 2.10 per cent intraday after the company registered an 8 per cent jump in total sales at 48,648 units in September. It had sold 45,215 units in the same month last year. The BSE Auto index was trading 2.35 per cent up at 22,754 in the morning trade.
Bajaj Auto was also up over 2 per cent Rs 2894. However, the company reported 2 per cent fall in total sales figures at 376765 units against 384400 units in the same month last year.