Auto stocks vroom on Sept sales

Auto stocks, particularly two-wheeler focused companies, are vrooming apparently boosted by the September sales numbers that have generally been positive.

But one exception was TVS Motor Company which, despite showing improved performance in September, saw its stock price slide marginally in the morning trade on the NSE today.

Mahindra & Mahindra shares shot up by Rs 23.60 to Rs 855.40 and Maruti shares moved up by Rs 19.70 to Rs 1,399.90. Tata Motors was relatively subdued with the stock going up by Rs 8.90 to Rs 344.55.

However the two-wheeler pack put up a more robust show.

Bajaj Auto gained Rs 65.55 to Rs 2,085.55 and Hero MotoCorp shares jumped by Rs 40.80 to Rs 2,039.90.

Surprisingly, the shares of TVS Motor Co , (it is not part of CNX Auto index) which posted a 16 per cent growth in total sales in September, fell 95 paise to Rs 39.20 on the NSE.

Ashok Leyland , which took a hit in its September sales, edged up to Rs 15.05, a gain of Re 0.05.

Among the auto accessories, MRF jumped by Rs 444.35 to Rs 14,300. The CNX Auto Index jumped by about 104 points.