Auto stocks in demand

Shares of automobile companies rose at 9:45 IST on BSE after most companies announced their sales figures in April 2018.

Bajaj Auto (up 2.27%), Tata Motors (up 2.15%), Maruti Suzuki India (up 1.24%), Escorts (up 0.80%), Hero MotoCorp (up 0.69%), Ashok Leyland (up 0.46%), Mahindra & Mahindra (up 0.28%) and TVS Motor Company (up 0.14%), edged higher. Eicher Motors was down 0.05%.

The S&P BSE Sensex was up 61.24 points, or 0.17% at 35,221.60.

Maruti Suzuki India reported a 14.4% increase in total sales at 1,72,986 units in April 2018 against 1,51,215 units in April 2017. The company's domestic sales stood at 1,64,978 units, up 14.2% from 1,44,492 units in April last year, the company said in a statement. The announcement was made on 1 May 2018.

Tata Motors registered a growth of 86% at 53,511 units in April 2018 as against 28,844 units in April 2017 due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market. The announcement was made on 1 May 2018.

Eicher Motors said its motorcycles sales jumped 27% at 76,187 units in April 2018 over April 2017. The announcement was made on 1 May 2018.

Bajaj Auto said its total sales rose 26% to 4.15 lakh units in April 2018 over April 2017. The announcement was made before trading hours today, 2 May 2018.

TVS Motor Company registered a sales growth of 24% to 304,795 units in April 2018 over April 2017. The announcement was made on 1 May 2018.

Mahindra & Mahindra (M&M) reported a 22% growth in its auto sales at 48,097 vehicles in in April 2018 against 39,417 vehicles during April 2017. The announcement was made on 1 May 2018.

In a separate announcement on 1 May 2018, M&M said it will acquire up to 10% equity in Canada's Resson Aerospace Corp for about Rs 34.50 crore. The consideration would be paid in cash.

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