Auto Stocks in Review, Nifty auto index rise

A number of Auto companies reported their sales numbers with major auto makers going on their bumpy ride.

Bajaj Auto demonstrated tepid set of numbers, reporting 40,4624 number of units sold in June. In response, Bajaj Auto Stock was trading higher by 2.55% at Rs.2899per share at around 3pm.

Eicher Motors posted muted numbers with a fall in total sales in June 2019 by 28.5% year-on-year. Consequently, Eicher Motors Stock trade higher by 2.03% at Rs.19527.85 at this point.

Ashok Leyland and Maruti Suzuki stocks were trading lower by about 24% each from their pervious closes of Rs87.05 and Rs.6,519 per shares respectively, after announcing sales data.  

Ashok Leyland posted reduced numbers for the month of June. Accordingly, the total number of vehicles sold in June 2019 was 12,810, showing 19% year-on-year declines, whereas MarutiSuzuki posted a fall of 14% in total sales in the month of June.

Irrespective of weak auto sales numbers, the Nifty Auto index advanced by 1.37% at 8,036.30 as of 2.45pm, Monday. In the Nifty Auto index, top gainers were Tata Motors and Motherson Sumi Systems up by 3.72 and 3.24% respectively.

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