Maruti Suzuki contributes almost 70 per cent to the BSE Auto Index gains; Tata Motors surge more than 1 per cent!

Balkrishna Industries was the top loser in the BSE Auto index; down by more than 1 per cent, followed by M&M, TVS Motors and MRF which were down by 0.20 per cent, 0.21 per cent and 0.12 per cent each respectively.

BSE Auto index remained one of the best performing sectorial indices on bourses on Tuesday inching up by 1.30 per cent when Sensex gained by 0.03 per cent.

Maruti Suzuki was the talk of the town on Tuesday as it single handed contributed to almost 70 per cent of the gains for the BSE Auto index; which was up by 303 points or 1.3 per cent on Tuesday. Maruti Suzuki was abuzz with the update from the management that it is going to increase the prices of its products as it was inevitable due to rising input costs.

Maruti Suzuki unperformed heavily in the first four months of 2021 and delivered negative returns in each month of the first four months. May month saw Maruti gain 10.21 per cent and in June the stock is up by 2.2 per cent. On Tuesday Maruti Suzuki gained more than 5.30 per cent, also topping the Nifty gainers list.

The other auto stocks that made investors happy were Tata Motors, Ashok Leyland, Eicher Motors and Bajaj Auto. Tata Motors gained more than 1 per cent while Ashok Leyland was up by nearly 1 per cent. Eicher Motors and Bajaj Auto inched up by 0.77 per cent and 0.55 per cent each. Tata Motors started the year 2021 with a bang by gaining more than 42 per cent in January itself. Four out of six months have seen Tata Motors deliver positive returns.

Balkrishna Industries was the top loser in the BSE Auto index; down by more than 1 per cent, followed by M&M, TVS Motors and MRF which were down by 0.20 per cent, 0.21 per cent and 0.12 per cent each respectively.