Auto shares on fast-track; TVS Motor, Hero MotoCorp rally up to 5%

At 10:42 am; Nifty Auto index, the top gainer among sectoral indices, was up 1.6 per cent, as compared to 0.39 per cent decline in the Nifty50 index.

Shares of automobiles companies were trading firm with the Nifty Auto index gaining nearly 2 per cent in an otherwise weak market on expectations that increased economic activity and growth in employment would fuel demand for automobiles including two-wheelers.

TVS Motor Company surged 5 per cent to Rs 656.55 on the National Stock Exchange (NSE) in Thursday’s intra-day trade. While, Hero MotoCorp gained 4 per cent to Rs 2,802, followed by Maruti Suzuki India (3 per cent) and Bajaj Auto, Ashok Leyland and Tata Motors are up 2 per cent, each.

At 10:42 am; the Nifty Auto index,