Nifty Auto holds steady amid bearish market; Bosch, TVS Motor shine; M&M, Maruti, Hero MotoCorp laggard

Balkrishna Industries and Bosch lifted the performance while TVS Motor Company and Tata Motors also were bullish.

May 11, 2021 01:05 IST India Infoline News Service

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The Nifty Auto index was trading  flat amid bearish overall markets. Balkrishna Industries and Bosch lifted the performance while TVS Motor Company and Tata Motors also were bullish. Heavyweights Mahindra & Mahindra, Maruti, and Hero MotoCorp dragged.

The investors are watchful as many auto companies have extended, preponed or advanced annual maintenance due to second wave of Covid-19 pandemic. Auto companies are also fresh from announcing quarterly earnings and monthly sales which were impacted by Covid-19 restrictions in April, 2021.

At around 1.10 pm, Nifty Auto was trading at 991.20 up 18.15 points or 0.18%, touching a high of 10,029.85 and low of 9,852.20 during intraday trade on Tuesday.

Balkrishna Industries surged 2.5% at Rs1,914.85 per piece while Bosch advanced 2.37% at Rs14,177.05 per piece. Bharat Forge gained 2.5% at Rs663.50 per piece. TVS Motor was up 1.8% at Rs622.55 per piece. Exide India and Tata Motors also gained over 0.8%.

Eicher Motors, Bajaj Auto and MRF also traded higher. 

M&M dropped 0.88% at Rs773.60 per piece. Maruti was 0.47% down at Rs6,732.25 per piece while Hero MotoCorp shed 0.43% at Rs2,824.00 per piece. 

Ashok Leyland, Motherson Sumi and Amara Raja Batteries also traded higher. 

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