Auto stocks rally led by Bajaj Auto; Ashok Leyland, Hero Moto, Tata Motors hit 52-week high

Bajaj Auto, Ashok Leyland, Hero MotoCorp, Tata Motors, TVS Motor and Eicher Motors hit new 52-week high on BSE.

January 22, 2021 / 12:18 PM IST

The Indian stock market is trading at the day's low with Sensex down 468.23 points or 0.94 percent at 49156.53, and the Nifty shedding 134.50 points or 0.92 percent at 14455.90.

Among the sectors, the auto index was up 2 percet led by Bajaj Auto which jumped over 7 percent. The two-wheeler manufacturer clocked its highest-ever standalone profit of Rs 1,556.3 crore in the December quarter, rising 23.4 percent compared to the year-ago period, driven by volume growth and operating performance.

Its revenue increased by 16.6 percent year-on-year to Rs 8,910 crore, which was also the highest for a quarter. Volumes grew by 9 percent YoY, driven by a 26 percent growth in motorcycle exports and an 8 percent increase in domestic volumes but the three-wheeler segment declined 36 percent year-on-year.

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The other gainers included Ashok Leyland which jumped 4 percent followed by Hero MotoCorp, Bosch, Tata Motors, Eicher Motors and TVS Motor Company among others.

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Share price of Tata Motors was one of the most active stock on NSE in terms of volumes with 16,13,16,507 shares being traded followed by Ashok Leyland (3,78,62,859) while in terms of value in Bajaj Auto 33,21,877 shares were being traded.

Among the auto names, the stocks which hit new 52-week high included Bajaj Auto, Ashok Leyland, Hero MotoCorp, Tata Motors, TVS Motor and Eicher Motors.

Automobile dealers' body FADA said passenger vehicle retail sales in December witnessed a year-on-year increase of 23.99 percent to 2,71,249 units. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,270 out of the 1,477 regional transport offices (RTOs), PV sales stood at 2,18,775 units in December 2019.

Two-wheeler sales increased 11.88 percent to 14,24,620 units last month, as compared to 12,73,318 units in December 2019. Commercial vehicle sales, however, slipped 13.52 percent to 51,454 units in December 2020, as against 59,497 units a year ago.
Sandip Das
first published: Jan 22, 2021 11:45 am

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