Auto shares fall on weak monthly sales

Reuters Market Eye - Shares in Indian auto companies fall after the October sales numbers were below some analysts' estimates.

Hero MotoCorp falls 1.5 percent and Mahindra and Mahindra is down 3.1 percent.

Maruti Suzuki India Ltd is trading 1.8 percent lower, while Tata Motors down 1.2 percent.

Maruti reported a 1.1 percent fall in October sales, while Mahindra reported a 15 percent fall in sales.

Auto manufacturers reported weak despatches in October, Kotak Securities says.

"We believe automobile growth is likely to moderate to low-single digits over the next few months," Kotak Securities says.

(Reporting by Indulal PM)