Mahindra & Mahindra, Hero MotoCorp and Ashok Leyland jumped 3-4 percent each followed by Motherson Sumi Systems, Maruti Suzuki, MRF, TVS Motor Company, Eicher Motors and Bajaj Auto.
Auto stocks were in focus on March 1, with the companies start to release February sales data.
The Nifty Auto was outperforming other sectors at 0959 hours, up over 2 percent led by gains from Mahindra & Mahindra, Hero MotoCorp and Ashok Leyland which jumped 3-4 percent each. These were followed by Motherson Sumi Systems, Maruti Suzuki, MRF, TVS Motor Company, Eicher Motors and Bajaj Auto.
The share price of Escorts was down a percent after the company came out with its February sales data. Total sales grew 30.6 percent at 11,230 units against 8,601 units (YoY). However, exports were down 2.2 percent at 540 units against 552 units (YoY).
Bajaj Auto was up half a percent and was trading at Rs 3,821.85, up Rs 21.15, or 0.56 percent. The 2 and 3-wheeler maker’s sales were up 6 percent at 3.75 lakh units against 3.54 lakh vehicles (YoY). While domestic sales were down 2 percent at 1.64 lakh units against 1.68 lakh units (YoY).
The company’s exports were up 13 percent at 2.10 lakh units against 1.86 lakh units (YoY). Three-wheeler sales were down 5 percent at 42,454 units against 44,691 units (YoY). Two-wheeler sales grew 7 percent at 3.32 lakh units against 3.10 lakh units (YoY).
Maruti Suzuki was trading at Rs 6,979.80, up Rs 107.15, or 1.56 percent, at 1008 hours. It has touched an intraday high of Rs 7,032.85 and an intraday low of Rs 6,931. The company’s sales for February were up 11.8 percent at 1.64 lakh units against 1.47 lakh units (YoY). Exports grew 11.9 percent at 11,486 units against 10,261 units (YoY) while domestic sales was up 11.8 percent at 1.52 lakh units against 1.36 lakh units (YoY).
Maruti’s passenger car sales grew 6.1 percent at 1.05 lakh units against 99,871 units (YoY).