Auto stocks in demand ahead of Nov sales data

Auto stocks ended on a positive note today after going up by about 2 per cent in early trade on hopes of strong monthly sales figures to be released tomorrow.
Shares of Mahindra and Mahindra closed the day at Rs 1,367.25 on BSE after going up by 1.41 per cent. While, Tata Motors ended at Rs 423.35, up by 1.39 per cent.
Bajaj Auto went up by 1.34 per cent to close the day at Rs 2481.55, Eicher Motors ended for the day at Rs 16723.40, up 0.94 per cent and TVS Motors was up 0.47 per cent to close at Rs 306.90. Force Motors also went up by 3.78 per cent to closed at Rs 3,308.

Maruti Suzuki remained flat at Rs 4,576.70. The stocks went up by 2.55 per cent to hit an intra-day high of Rs 4,697.10.
Likewise, Hero Motocop also remained flat at Rs 2,702.65.
However, bucking the trend, shares of Ashok Leyland fell to 94.50 after going down by 3.08 per cent. The stock had hit an intra-day high of Rs 99.65, up 2.20 per cent.

"The auto stocks were mainly up on expectations of a very good sales data tomorrow following the month of Diwali. However, profit booking before the market closed capped the gains," CNI Research head Kishore Ostwal said.

Analysts also attributed the spurt in auto stocks to hopes of passage of the GST bill in Parliament during the ongoing Winter Session.
Besides, inclusion of Maruti Suzuki, Tata Motors and Ashok Leyland to the MSCI India index also helped the sector to make gains.
Ashok Leyland, Cadila Healthcare, Maruti Suzuki India and Tata Motors were added to the high-profile MSCI India index with effect from today.