Maruti Suzuki, Tata Motors, M&M: Price hike puts auto stocks in fast lane

On Monday, Maruti Suzuki increased the price for select models by up to Rs 34,000 to offset adverse impact of rising input costs

Equity markets bounced back on Tuesday, nursing losses of the past two days, on strong global cues. Amid broad-based buying, certain sectors were outperforming the markets on positive news flow. Nifty Auto index, for instance, gained 1.5 per cent on the National Stock Exchange (NSE) to hit an intra-day high of 10,113.5. Among individual stocks, Tata Motors jumped as much as 4 per cent on the NSE, followed by gains in Ashok Leyland, TVS Motors, Bajaj Auto, and Maruti Suzuki that gained between 1 per cent to 3 per cent.

On Monday, Maruti Suzuki increased the price for select models by