Monday, 2 April 2018

Nifty Auto Index surges after March sales data

The Nifty Auto Index surged over 1.5% on Monday after good sales numbers for the month of March. The Nifty Auto Index was trading higher by 1.58% at 10,992.

Bajaj Auto
 stock rose 1%. The company posted a 23% increase in total sales to 3.34 lakh units in March. The company had sold 2.72 lakh units in February.

Mahindra and Mahindra stock added 1% as the company reported total sales volume growth of 10% yoy in March 2018. It sold 62,077 units in March 2018 against 56,202 units in March 2017.

Maruti Suzuki stock rose over 2% after the company posted its sales up nearly 15% in March led by sales in the mini segment.

Tata Motors stock gained 3% after its local sales jumped 35% in March aided by the commercial vehicles and passenger vehicles segments. The stock is currently trading at Rs336.35 up by Rs8.9 or 2.72% from its previous closing of Rs327.45 on the BSE.

Eicher Motors stock advances 0.58%. Royal Enfield, the two-wheeler division of Eicher Motors Ltd., reported a 27% jump in total sales to 76,087 units in March. The two-wheeler manufacturer had sold 60,113 units in March 2017.

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