iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Nifty Auto index in the fast lane, climbs over 100 pts; M-;M, Eicher, Tata Motors, Bosch, Bharat Forge drive the performance

28 Jan 2022 , 10:45 AM

Business graph

Auto stocks are shining on Friday as investors pin their hopes on better sales and demand amid Union Budget 2022 despite Omicron spread, inflationary pressure and US Fed’s sooner than expected interest rates hike continuing to hinder markets bullish outlook ahead. The broader markets today were in the fast lane so far with substantial contributions made by the auto sector as well.

Experts are optimistic about the sector as India’s electric vehicle push to drive the industry further. By 2030, the country targets to turn 80% of its scooters and motorbikes while 30% of cars are electric, said reports.

At around 10:41 AM, Nifty Auto was trading at 11,703.95 up by 142.35 points or 1.23%. The index has touched an intraday high of 11,761.15 as on the index, 13 scrips advanced and only two declined.

Except for TVS Motor and Maruti Suzuki, all stocks listed on Nifty Auto were on a bull run.

Amara Raja Batteries was the top bull soaring by 3.34%. Mahindra & Mahindra climbed 3.2%, while Eicher Motors and Balkrishna surged 2.9% each. Also, M&M announced that it has clocked nearly one lakh bookings of XUV700, bills 14,000 units by January.

Bharat Forge jumped 2.8%. The auto company backed Tork Motors launched electric motorcycle KRATOS, KRATOS-R recently.

MRF surged 2.7%, while stocks like Exide, Ashok Leyland, Tata Motors and Bosch climbed more than 2% each. Tube Investments and Bajaj Auto advanced 0.99% and 0.92% respectively. Hero MotoCorp up 0.6% on the index.

Index heavyweights Maruti Suzuki and TVS Motors emerged as only bears tumbling by 1.3% and 6.3% respectively. TVS Motor announced the successful acquisition of 75% stake in Swiss E-Mobility Group (SEMG) for $100 Million deal.

Investors are also optimistic about the auto industry for 2022 even though semiconductor shortages continue to be a major spoilsport for production and earnings.

Related Tags

  • Ashok Leyland share price
  • auto industry price hike
  • auto price hike
  • Auto sales
  • auto sector
  • auto stocks
  • Auto stocks in focus
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.