Auto index rallies 5%; Bajaj Auto ends flat

Auto index finally closed at 5,070, up 5%.

Mahindra & Mahindra added 8% to Rs 778.  The stock clocked a volume of 296,527 shares as compared to the two-week daily average traded volumes of 222,681 shares.

Tata Motors surged 6.5% to Rs 316. The counter witnessed heavy trades of 1.30 million shares as compared to the two-week daily average traded volumes of 10.21 million shares.

Interestingly Bajaj Auto which was leading the rally before, ended flat at Rs 1,157.

Apollo Tyres, Ashok Leyland, Tata Motors, Hero Honda, MRF and Maruti advanced 3.5-7% each.
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(Updated at 1301hrs)

The BSE auto index has gained today after Bajaj Auto reported better-than-expected Q1 performance.

The index opened at 4,864 and surged to a high of 5,051. The index is now near its high at 5,042, up 4.5% from the previous close.

The index had added 2% yesterday to end at 4,821, after the Bajaj Auto numbers came in.

Tata Motors and Mahindra & Mahindra have surged 6.5% each.

Today, Tata Motors will be handling out the key to its Rs 1 lakh car, Nano, to the first customer. The stock has rallied 6.5% to Rs 316. Around 854,926 stocks have been traded on the BSE so far.

Mahindra & Mahindra is trading at Rs 768. Apollo Tyres has gained 6% at Rs 36. MRF has added 4.5% to Rs 3,400.

Hero Honda and Ashok Leyland have moved up 4% each to Rs 1,602 and Rs 33, respectively.

Bajaj Auto announced its Q1 numbers yesterday. The stock has advanced 3.7% to Rs 1,193, following a 67% rise in net profit. Over 24,600 shares have been clocked at the counter today.

Maruti Suzuki is up 2.6% at Rs 1,174.