Auto stocks gain 4% amid festive cheer
- If Pakistan has sympathy for Kashmiri youth, they shouldn’t provoke them to attack army camps: Mehbooba Mufti
- Dhaka cafe attack mastermind, 2 others killed in police encounter
- Rio 2016 review: What they did at home, what in Olympics
- Buzz of change in Maldives, Mohammed Nasheed flies secretly to Lanka
- Kashmir: Police constable shot dead by terrorists
Auto stocks today surged more than three per cent on expectations that the ensuing festive season would improve their sales figure.
Shares of Mahindra and Mahindra went up by 3.71 per cent to an intra-day high of Rs 942.60 on the BSE, becoming the top gainer among the BSE 30-Sensex stocks. The stock finally ended the day at RS 938.35, up 3.25 per cent on the BSE.
Maruti Suzuki shot up by nearly one per cent to Rs 1,508.40 on the BSE. It finally settled at Rs 1,499.60, higher by 0.33 per cent.
Shares of Tata Motors also saw heightened buying interest as the stock rose by 2.38 per cent to scale an intra-day high of Rs 270,40. At close, the stock was trading at Rs 266.20, up 0.80 per cent on BSE.
Meanwhile, two-wheeler majors Hero Mootocorp and Bajaj Auto ended in the negative territory with losses of 0.97 per cent at Rs 1,824.55 and 1.39 per cent at Rs 1828.40 respectively.
Market experts termed the ensuing festive season as positive for the automobile sector and said that the uptick in the counter is largely on the back of this sentiment.
Mutual Funds Check for top funds
Company INFO More on Mahindra & Mahindra Ltd.
- In Kashmir, so-called solutions are riddled with contradictions and divisions
- Why personal, social and political self-identification of Dalits must count more than legal nomenclature.
- The draft surrogacy bill violates the fundamental right of people to choose modes of parenthood
- Realpolitik drives Myanmar’s outreach to India and China
- Epidemics in India are seldom followed by a long-term response
- Pakistan army has a battle to win: The corruption within