Auto Stocks Buzzing On Bourses, M&M Rises 2%

Heavyweight auto stocks on Wednesday are buzzing on bourses, with Mahindra and Mahindra, Maruti Suzuki and Bajaj Auto leading the rally.

Mahindra and Mahindra is contributing nearly 60% to the index gains and lifting it to higher levels, the stock is up by nearly 2% on the BSE.

Maruti Suzuki India, an Indian automobile manufacturer is trading higher by nearly 1%, whereas the Indian two-wheeler and three-wheeler manufacturing company, Bajaj Auto has risen higher by 1.25 on the BSE.

Hero MotoCorp, Indian motorcycle and scooter manufacturer is expected to report subdued financial results for the quarter ended on March 31, 2017. The stock on Wednesday is trading with no strong momentum higher by 06% at Rs 3309 per share mark.

The Supreme Court’s recent BS-III vehicle ban has affected the the auto sector. The company may post decline in profits owing to around Rs 200 cr loss due to heavy discounts after BS-III vehicle ban, as per market experts.

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About Suhani Varma