At around 10.45 am, Auto Index was trading at 8,909.45 up 141.70 points or 1.62% after opening at 8,829.05 and touching a high of 8,922.65 and low of 8,820.05.
Tata Motors surged 4.81% higher, while TVS Motor traded 4.31% higher. Ashok Leyland (3.60 %) and Bajaj Auto (3.32%) continued to make gains while Mothersumi (3.465), Balkrishna Industries (3.01%), Exide (3.10%) and MRF (2.055) were also bullish.
Eicher Motors stocks also recovered on Friday to trade 1.72% higher. Its stocks were among the major losers on Thursday and Wednesday after touchiung new highs on Tuesday.
Mahindra & Mahindra however continues to struggle after Tuesday gains and is trading in the negative zone at -0.57%. Maruti is marginally higher at 0.37%.
Mahindra & Mahindra Subsidiary Mahindra Holdings agreed to sell its entire 100% stake in Mahindra First Choice Services (MFCS) and Optionally Convertible Redeemable Preference Shares in Auto Digitech (ADPL) to TVS Automobile Solutions (TASL). M&M signed a Share Subscription Agreement for subscribing securities of TVS Automobile Solutions (TASL).
BSE Sensex was trading at 44,175.23 down 84.51 points or 0.19% and Nifty50 was trading at 12,975.35 down 11.65 points or 0.09%.