Nifty Auto stocks were trading in the fast lane amid subdued trade on Tuesday. However, battery companies stocks tanked with
Amara Raja Batteries plunging 5.5% while
Exide Industries was also under pressure.
Tyre company
Balkrishna Industries led the gains ably supported by
Ashok Leyland,
TVS Motor Company,
Eicher Motors and
Tata Motors also lifted the sectorial performance.
At around 2.10 pm, Nifty Auto was trading at 10,388.30
up 72.55
points or 0.70%, touching a high of 10,424.25 and low of 10,367.95 during intraday trade on Tuesday. BSE Sensex was down 0.13% and Nifty50 was also marginally in the red.
Amara Raja Batteries share price was down at Rs739.80 per piece on Tuesday after car battery maker Clarios reportedly said it will sell 1.71cr shares of the company. Around 29.6 million equity shares, representing 17% of the total equity of the company have changed hands on the NSE. A combined 33.8 million equity shares, representing 19% of the total equity of the company changed hands on the NSE and BSE combined.
Further, the company on Saturday said its consolidated net profit after tax rose by 38% to Rs189cr for the fourth quarter ended March 2021 on the back of robust sales across business verticals. The company had reported a net profit after tax of Rs137cr for the January-March quarter of 2019-20.
Exide Industries shed 1.35% at Rs190.20 per piece. Bosch was down over 0.8% while MRF was also lower. Motherson Sumi and Bajaj Auto was trading flat.
Balkrishna Industries surged 3.1% at Rs2,204.10 per piece to lift the performance while Ashok Leyland also advanced 2.5%. TVS Motor Company and Eicher Motors also gained nearly 2%. Tata Motors was also bullish with gains of nearly 1.5%.
Bharat Forge and Hero Moto Corp also were bullish, up nearly 1%. Mahindra & Mahindra and Maruti also traded higher.