The upsurge came after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter.
Of the 15 sectoral indices tracked on the BSE, only seven have delivered positive returns over the past year. Picking up underperforming stocks now may be better than going for multibaggers.
Maruti's total sales went up 30.8 percent at 1.60 lakh units against 1.22 lakh units (YoY). Total sales grew 29 percent at 1.60 lakh units against 1.24 lakh units (MoM).
ICICIdirect.com has come out with its report on auto space. The research firm, has changed its stance from overweight to equal weight but continue to recommend large cap names with good business diversification. In ancillary stocks, ICICIdirect recommend businesses with pricing power and weaker input costs.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com says that he is optimistic on the market till mid-January due to heavyweight results like Tata Consultancy Services (TCS), Axis Bank, Wipro, Reliance Industries, HDFC Bank all lined up for the next couple of days.