Auto stocks surge up to 7.4% on robust March sales numbers

Auto stocks today surged up to 7.4 per cent on the back of robust sales numbers for March month.

Tata Motors gained 3.47 per cent to end at Rs 338.80 on BSE. Hero MotoCorp went up by 2.68 per cent to close at Rs 3,640.65, Maruti Suzuki India gained 1.65 per cent to Rs 9,009.05 and Mahindra & Mahindra rose 1 per cent to Rs 747.60.

Bajaj Auto rose by 2.17 per cent to close at Rs 2,808.60 while Ashok Leyland was up 1.93 per cent at Rs 148.10 at close.

Shares of TVS Motor soared 7.35 per cent to Rs 662.30.

Following the gains in TVS, the BSE Auto index rose by 2.14 per cent to 24,572.70. The Nifty Auto index gained 2.19 per cent to close at 11,058.45.

Tata Motors yesterday reported 35 per cent increase in total sales to 69,440 units in March as compared to 51,309 units in the same month last year.

The country's largest car maker Maruti Suzuki India (MSI) yesterday reported a 14.9 per cent increase in total sales at 1,60,598 units in March as against 1,39,763 units in the year-ago month.

Automaker Mahindra & Mahindra today reported a 10 per cent increase in total sales at 62,077 units in March as against 56,202 units for the same month last year.

TVS Motor Company today reported a 27 per cent increase in total sales at 3,26,659 units in March.