Auto shares mixed on muted April sales data

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Shares of auto companies were trading mixed intraday on May 2 after the companies announced muted sales for April 2019.

The overall passenger vehicle wholesales declined 17 percent YoY to 2,45,599 units in April 2019 compared to 2,96,369 units dispatched in the year-ago period.

Ashok Leyland was the biggest gainer, surging more than 3 percent intraday, after the company reported a 10 percent rise in the domestic vehicles sales at 13,141 units in April 2019.

Hero Motocorp and Mahindra & Mahindra added around 1 percent each intraday on the BSE.

Mahindra's sales fell 9 percent to 43,721 vehicles in April 2019 against 48,097 vehicles in the year-ago period.

Hero MotoCorp, on the other hand, reported a 24.51 percent decline in profit at Rs 730.32 crore for the quarter ended March 2o19.

Maruti Suzuki was in the red after its sales slumped  19.6 percent in April 2019 selling 133,704 units against 164,978 units in the same month last year.

TVS Motors fell more than 3 percent, after registering a 19.2 percent fall in its Q4FY19 net profit at Rs 133.8 crore versus Rs 165.6 crore in the same period last year.

Tata Motors fell more than 1 percent after April 2019 sales tanked 26.89 percent at 12,600 units compared to 12,235 units in April 2018.