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Nifty Auto Index Gains 1%; Tata Motors, Bharat Forge Top Performers

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The NIFTY Auto Index is designed to reflect the financial market's behavior and performance in the Automobile sector. The NIFTY Auto Index is made up of 15 exchange-listed, tradable firms. Automobiles 4 wheelers, Automobiles 2 & 3 wheelers, Auto Ancillaries, and Tyres are all represented in the index.

 

On Monday, Auto stocks rose sharply on broad-based buying amid improved sentiments following the consistent decline in the second wave of the Coronavirus pandemic.

Auto sales, the Reserve Bank of India's monetary policies, and business profits all helped to raise the mood. The Nifty Auto Index has outperformed the wider market and its sectoral peers.

Nifty Auto Index Gains 1%; Tata Motors, Bharat Forge Top Performers
Bharat Forge: Quotes, News
BSE 729.30BSE Quote12.05 (-1.65%)
NSE 731.85NSE Quote9.65 (-1.32%)
TVS Motor Company: Quotes, News
BSE 622.00BSE Quote7.45 (-1.20%)
NSE 622.35NSE Quote7.15 (-1.15%)

Auto sales, the Reserve Bank of India's monetary policies, and business profits all helped to raise the mood. The Nifty Auto Index has outperformed the wider market and its sectoral peers.

Tata Motors was the best performer, rising 3.4 percent. MRF and TVS Motor, on the other hand, increased by 2.3 percent and 1.9 percent, respectively. Tata Motors and TVS Motors were both trading around all-time highs. Exide increased by 1.8 percent.

After reporting a positive March 2021 (Q4FY21) result, Bharat Forge gained 1.5 percent. In the fourth quarter, the company's revenue increased by 26.2 percent, thanks to a robust 42.9 percent increase in export revenues and a 9.6 percent increase in domestic revenues.

 

Maruti Suzuki, a heavyweight, also contributed to the gains, rising 1% after publishing May 2021 manufacturing statistics.

Balkrishna, Ashok Leyland, Amara Raja Batteries, Motherson Sumi, Bosch, and Eicher Motors all saw their stock prices rise by 0.5-1 percent.

Story first published: Monday, June 7, 2021, 13:00 [IST]
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