At around 12.28 PM, Nifty Auto was trading at 8,034.25 above 126.15 points or 1.60%. The index has surged to the day's high of 8,089.05.
Bajaj Auto stock was the lead gainer on the index, by trading at Rs3,044.10 per piece up 5.66%. The company recorded a rise of 10% in total sales to 4.41 lakh units in September 2020 as compared to 4.02 lakh units in September 2019.
Bajaj Auto was joined by TVS Motor which was trading at Rs486.05 per piece up 3.79%, followed by Ashok Leyland at Rs76.05 per piece above 2.22%. While MRF and Maruti Suzuki were trading at Rs60,569.90 per piece and Rs6,856.05 per piece gaining by 1.67% each.
Maruti Suzuki posted a total sales of 160,442 units in September 2020, registering a growth of 30.8% over the same period the previous year. Total sales include domestic sales of 150,040 units and 2,568 units for other OEMs. Additionally, exports were at 7,834 units in September 2020.
Other stocks like Motherson Sumi (Rs116.45 per piece), Tata Motors (Rs134.95 per piece), M&M (Rs614.95 per piece), Hero Motocorp (Rs3,175 per piece), Bosch (Rs13,834.90 per piece), Bharat Fore (Rs445.65 per piece) and Exide Industries (Rs165.25 per piece) advancing in the range of 0.4% to 1.4%.
However, stocks like Amara Raja Batteries (Rs759.60 per piece), Balkrishna Industries (Rs1,470 per piece) and Eicher Motors (Rs2,199.20 per piece) were among top underperforming stocks. These stocks plunged in the range of 0.16% to 0.60%.
Automakers on the first two days of every month usually present their sales performance data.