Shares of Maruti Suzuki, India's leading automobile manufacturer and Tata Motors, the country's largest EV player traded in red in the afternoon on November 30 ahead of the announcement of the monthly sales data.
At 2:51 pm, Maruti was trading at Rs 10,581, down by 0.3 percent from the previous close on the NSE. Meanwhile, Tata Motors was quoting at Rs 707, trailing by 1 percent on the exchanges.
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Meanwhile, Mahindra and Mahindra, Eicher Motors, and Hero Motocorp were trading in the green, each gaining almost 3 percent in trade. Meanwhile, shares of TVS traded relatively flat, falling by a marginal 0.1 percent.
Also read: Eicher stock advances 14% in a month. Can its ‘Himalayan’ rally continue?
The Nifty Auto index was trading at 17,555, up 0.5 percent from the previous close, a new life-time high.
The sector has had a positive run leading up to the festive period. Data from the Federation of Automobile Dealers Association (FADA) showed that, during the 42-day festive period, which starts on the first day of Navratri and ends 15 days post-Dhanteras, the automobile industry reached a new milestone with vehicle sales climbing to 37.93 lakh registering a 19 percent increase from last year's 31.95 lakh.
Significant growth was observed in the sales of two-wheelers, three-wheelers, commercial vehicles and passenger vehicles with respective rises of 21 percent, 41 percent, 8 percent and 10 percent.
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