Auto stocks gain on excise duty reduction proposal

MUMBAI (Reuters) - Indian auto shares gained after the finance minister proposed excise duty reductions on small cars, two-wheelers, commercial and larger vehicles in the interim budget for 2014/15.

Among two-wheeler manufacturers, Hero MotoCorp gained 1.8 percent while Bajaj Auto rose 0.8 percent.

Maruti Suzuki India gained 1.2 percent while Mahindra and Mahindra rose 1.1 percent.

(Reporting by Abhishek Vishnoi and Indulal PM; Editing by Sunil Nair)