Stock Market update: Automobile stocks rally on better than expected Dec’21 sales numbers

Tata motors recorded the highest sales in December 2022.

Shares of automobile companies saw healthy buying interest in the morning deals on Monday after a series of companies posted better than expected numbers for December 2021 sales. The overall Nifty Auto index was up more than 1.3% — led by shares of Eicher Motors, Ashok Leyland, Tata Motors, among others.

Maruti Suzuki India, Tata Motors, Hero MotoCorp, MRF, Ashok Leyland were up in the range of 1 per cent to 3 per cent in the market. Mahindra & Mahindra were down to 0.69 per cent to the otherwise growing market. Similarly, Balakrishna Industries stocks tanked down by 0.60 per cent and that of TVS motors by 0.33 per cent.

Shares of Motherson Sumi sys increased by 0.51 per cent and that of Maruti Suzuki were up to 1.13 per cent as of 11.54 am today, January 3, 2022. Exide Inds saw a rise of 0.89% and Eicher motors shares got a record increase of 4.59%.  Bharat Forge recorded a 1.22% growth in the share market. Bajaj auto stood with a 0.79% increase. 

Maruti Suzuki India sales reduced by 4% in last fiscal. Maruti Suzuki India saw a  total sales of 1,53,149 units in December 2021 compared to 1,60,226 units sold in December 2020. However, the company’s total sales have raised by 10% eventually on a sequential basis. The company had sold 1,39,184 units in November 2021.

Tata motors recorded the highest sales in December 2022, it recorded the highest digits in a decade with Q1 sales at 83,859 units and Q2 sales at 64,387 units. Mahindra & Mahindra’s overall auto sales for December 2021 stood at 39,157 vehicles, up by 11% from 35,187 vehicles sold in December 2020. The passenger vehicles segment (which includes UVs, Cars and Vans) sold 17,722 vehicles in December 2021

 

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