Festival boost for auto sales; auto stocks surge

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Festival boost for auto sales; auto stocks surge
Maruti Suzuki India: Quotes, News
BSE 6070.10BSE Quote7.4 (0.12%)
NSE 6079.65NSE Quote16.5 (0.27%)
Hero MotoCorp: Quotes, News
BSE 3164.80BSE Quote36.3 (1.15%)
NSE 3166.20NSE Quote40.4 (1.28%)
A surge in demand for auto and two-wheelers has seen most of the companies report a sharp increase in sales volume for Oct 2012. Shares prices of auto stocks have surged after companies reported Oct sales volume numbers.

Shares of Hero Motocorp Company rose 1.72% at Rs 1938, after the company reported its highest ever sales in scooters in the month of October 2012.

Mahindra & Mahindra Ltd, India's leading SUV manufacturer, reported all time high monthly auto sales number of 53438 units, representing a 29% growth over October 2011. The shares of the company rose by 1.60% at Rs 914 on BSE.

Car market leader, Maruti Suzuki India shares hit a 52- week high on Thursday and was seen trading at Rs 1457, higher by 0.15%. The company sold a total of 103,108 units in October 2012. This includes 7,106 units for export.

Shares of Bajaj Auto surged 2.17% on the BSE after the company posted the highest ever domestic motorcycle sales at 262,000 unite for the month of October 2012.

GoodReturns.in

Story first published: Friday, November 2, 2012, 10:55 [IST]
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