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Auto stocks rise on November sales data; brokerages betting on Maruti, Eicher Motors

Commercial vehicle is trending well on recovery but rising CNG demand is leading to market share shifts. "Our preferred picks post recent correction are Eicher Motors, Bajaj Auto and Maruti Suzuki," BofAML has said

December 01, 2021 / 01:51 PM IST
Stock Market, Auto stocks

Stock Market, Auto stocks

The Indian stock market was trading higher in the afternoon on December 1, with the Sensex up 624.26 points, or 1.09 percent, at 57,689.13 at 1.05 pm and the Nifty gaining 180.40 points, or 1.06 percent, at 17,163.60.

All sectoral indices barring pharma and realty were trading in the green. The auto index was up over a percent.

Among the top auto gainers, Eicher Motors jumped more than 3 percent after the tractor-maker declared its November sale numbers. Its total commercial vehicle sales were up 3.1 percent at 3,184 units against 3,088 units in the same month of the previous year.

Maruti Suzuki and Tata Motors were up over 2 percent each. Maruti Suzuki India share price was trading at Rs 7,265.15, up Rs 179, or 2.53 percent at 1.09 pm, while that of Tata Motors was at Rs 469.60, up Rs 10.80, or 2.35 percent.