Nifty Auto trades in the red; Tata Motors sinks over 2%

Mahindra & Mahindra and Maruti were among the top gainers on Friday. Bajaj Auto was flat post Q1 earnings.

Jul 23, 2021 12:07 IST India Infoline News Service

The Nifty Auto was under slight pressure amid volatile trade on Friday. The Index was lower as heavyweight Tata Motors tanked over 2% while Mahindra & Mahindra and Maruti were among the top gainers on Friday. Bajaj Auto was flat post Q1 earnings.

At around 12.15 PM, the Nifty Auto was trading at 10,222.15 down 13.65 points or 0.13% touching a high of 10,297.60 and low of 10,206.40 during intraday trade on Friday.

BSE Sensex was trading at 52,922.29 up 85.08 points or 0.16% and Nifty 50 at 15,844.25 up 20.20 points or 0.13%.

Tata Motors was under pressure at Rs295.40 per piece, down 2.4%. The selling pressure was amid recent reports that Rakesh Jhunjhunwala has trimmed shares in Tata Motors during the first quarter of June 30 ended 2021.

TVS Motor Company was 0.7% lower at Rs581.30 per piece. Tube Investments of India trimmed few losses but continued to remain under pressure at Rs1,113.80 per piece, down 0.7%. Bosch also shed 0.5%. 

Hero MotoCorp was also nearly 0.5% lower. The two-wheeler company launched an advanced, connected, and feature-rich new Maestro Edge 125.

Eicher Motors, MRF, Bharat Forge, Ashok Leyland and Exide India were also in the red.

Bajaj Auto was trading flat. Net profit of Bajaj Auto rose 195.86% to Rs1170.17cr in the quarter ended June 2021 as against Rs395.51cr during the previous quarter ended June 2020. Sales rose 144.75% to Rs7216.57cr in the quarter ended June 2021 as against Rs2948.52cr during the previous quarter ended June 2020.

M&M led the gains by suring 0.8% at Rs764.50 per piece. Maruti gained 0.6% at Rs7,345.15 per piece. Balkrishna Industries and Amara Raja Batteries were also in the green. 

Related Story

Open Free Demat Account (Rs699)