Auto shares rally; M&M, Maruti Suzuki up 5%

M&M, Maruti Suzuki, Tata Motors, Hero MotoCorp, Eicher Motors and TVS Motor were up 2% to 5%

Shares of automobile companies are on a roll, trading higher by up to 5% on the National Stock Exchange (NSE) after the Finance Minister Arun Jaitley announced a slew of incentives to boost the rural economy.

Mahindra & Mahindra (M&M) and Maruti Suzuki India rallied 5% each at Rs 1,298  and Rs 6,170, respectively. Tata Motors, Hero MotoCorp, Eicher Motors and TVS Motor Company were up 2% and 4% on the NSE.

At 03:13 pm; Nifty Auto index was up 3.6% as compared to 1.9% rise in the Nifty 50.

The Finance minister Arun Jaitley proposed increased