Auto shares jump as sales number show promise
Sales growth in auto companies gave a growth impetus to auto sector that was trading up 0.68% on BSE in early trade on Friday.
Auto companies registered sales growth for August as compared to the same period of last year.
Shares of Auto - Tractors, Cars & Jeeps, LCVs/HCVs were trading up 1.81%, 1.24% and 1.38% respectively. However shares of auto - 2&3 wheelers were trading down 0.48%.
Auto company’s shares were trading higher at 1030 hours with the exception of Mahindra & Mahindra which were trading down 0.27% to Rs 1447.95 per share.
Eicher was trading up 0.34% at Rs 22,865 per share while Maruti Suzuki was trading up 2.09% at Rs 5,164.05 per share on BSE and Hero Motocorp were also trading up 0.74% at Rs 3,573 a share.
Sales growth was seen in all companies with the exception of a couple like Honda cars that reported a 10.9% drop in domestic sales to 13,941 units sold in August as compared to 15,655 sold last year.
Ashok Leyland also reported a drop 6% in the sale of commercial vehicles to 10,897 units sold last month.