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Shares of automobiles companies are in demand in otherwise subdue market on renewed buying interest on expectations of higher demand during the upcoming festive season.
Ashok Leyland, Eicher Motors, Force Motors, Bajaj Auto and TVS Motor Company are trading higher in the range of 2-10%, while Mahindra and Mahindra, Maruti Suzuki India and Tata Motors are up 1% each on the BSE.
The BSE auto index was up 1% or 121 points at 11,194 points as compared to a marginal 0.11% or 21 points rise in benchmark S&P BSE Sensex at 1440 hours.
Most two-wheeler stocks rose on expectations of pickup in sales during the upcoming festive season and on hopes good rains this year will boost rural sales. The festive season starts with the Durga Puja in October. The festival is followed by Dussehra and Diwali.
Meanwhile, Credit Suisse has an outperform rating on the Bajaj Auto and set a target price at Rs 2,210 per share. According to the brokerage house, new launches and festive season are near-term positives for the stock, the moneycontrol.com report suggests.
Shares of commercial vehicles and two-wheeler manufacturing company Eicher Motors has rallied 6% to Rs 3,580, followed by TVS Motor Company (up 3.3% at Rs 34.70) and Bajaj Auto (3% at Rs 2,031).
Among the other individual stocks, Force Motors has surged as much as 10% to Rs 310, while Ashok Leyland was up 8% at Rs 15 on the BSE.
Ashok Leyland, Eicher Motors, Force Motors, Bajaj Auto and TVS Motor Company are trading higher in the range of 2-10%, while Mahindra and Mahindra, Maruti Suzuki India and Tata Motors are up 1% each on the BSE.
The BSE auto index was up 1% or 121 points at 11,194 points as compared to a marginal 0.11% or 21 points rise in benchmark S&P BSE Sensex at 1440 hours.
Most two-wheeler stocks rose on expectations of pickup in sales during the upcoming festive season and on hopes good rains this year will boost rural sales. The festive season starts with the Durga Puja in October. The festival is followed by Dussehra and Diwali.
Meanwhile, Credit Suisse has an outperform rating on the Bajaj Auto and set a target price at Rs 2,210 per share. According to the brokerage house, new launches and festive season are near-term positives for the stock, the moneycontrol.com report suggests.
Shares of commercial vehicles and two-wheeler manufacturing company Eicher Motors has rallied 6% to Rs 3,580, followed by TVS Motor Company (up 3.3% at Rs 34.70) and Bajaj Auto (3% at Rs 2,031).
Among the other individual stocks, Force Motors has surged as much as 10% to Rs 310, while Ashok Leyland was up 8% at Rs 15 on the BSE.
