At around 1.42 pm, Nifty Auto was trading at 9,898.40 up by 206.95 points or 2.14%. The index has touched an intraday high and low of 9,926.45 and 9,679.50 respectively.
M&M was the top gainer on the index surging by nearly 4% followed by Tata Motors and Bharat Forge soaring by 3.3% each.
Tata Motors has recorded Group global wholesales of 3,30,125 units for the quarter ending March 2021 (Q4FY21), registering a growth of 43%, as compared to Q4 FY20. The latest figures also included sales of luxury car subsidiary Jaguar Land Rover (JLR).
TVS Motor, Ashok Leyland and Motherson Sumi climbed around 3% each.
Ashok Leyland and Hinduja Leyland Finance (a subsidiary of the Company) has jointly incorporated a company in the name of Gro Digital Platforms Limited (GDPL).
Among the latest auto companies to announce their Q4 result will be TVS Motor and Bajaj Auto. TVS Motor will announce its Q4 result on April 27, while Bajaj Auto is set to present its financial performance for the quarter on April 29, 2021.
Hero MotoCorp and Eicher Motors witnessed nearly 2% upside each. Between 1-1.3% gain was recorded in stocks like Bajaj Auto, Amara Raja Batteries, Bosch and Maruti Suzuki.
Maruti earlier today informed that the Company is increasing the price for select models owing
to an increase in various input costs. The weighted average price increase in Ex-Showroom Prices (Delhi) across models is 1.6%.
MRF advanced by 0.8%.