February 22, 2024

Maruti Suzuki, and Mahindra Mahindra slid marginally

The Nifty auto index gained over a % to hit a brand new excessive of 18,755 on January 11, with beneficial properties of as much as 5 % in Hero MotoCorp and Bajaj Auto. The surge comes as vehicle corporations gear as much as announce their third quarter outcomes.

Up to now yr, the index has gained 47 % in comparison with Nifty’s 21.2 % throughout the identical interval.

Story continues under Commercial

The Hero MotoCorp inventory was the largest index gainer, closing almost 5 % to finish the day at Rs 4,335 on stories of its foray into the 440cc section with an all-new Maverick.

Additionally learn: Hero Motocorp cruises 5% on buzz of entry into 440cc section

Bajaj Auto was subsequent in line, ending 3.44 % greater at Rs 7,296 on the NSE. The momentum was fuelled by its latest Rs 4,000-crore buyback.

Different main shares that rallied have been Tata Motors, the most effective performing Nifty inventory of 2023, Royal Enfield-maker Eicher Motors, two-wheeler main TVS Motor Firm, and Bosch.

Learn Extra: Analyst Name Tracker | Why Tata Motors dazzled in 2023 however Eicher dimmed out?

Maruti Suzuki and Mahindra and Mahindra closed marginally decrease, whereas Bharat Forge fell nearly a %.

Story continues under Commercial

Disclaimer: The views and funding ideas expressed by funding specialists on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to test with licensed specialists earlier than taking any funding choices.