Nifty Auto held modest gains amidst volatile markets on Monday.
Tube Investments of India led the moderate gains while Tata Motors,
Maruti, and TVS Motor Company also outperformed amid quarterly business updates. Investors await the quarterly earnings of auto majors. Bajaj Auto was under pressure.
At around 2.10 pm, Nifty Auto was trading at 10,454.15 up 33.85 points or 0.32%, after touching a high of 10,523.00 and low of 10,427.45 during intraday trade on Monday. BSE Sensex traded at 52,391.13 up 4.94 points or 0.01% and Nifty50 at 15,699.45 up 9.65 points or 0.06%.
Tube Investments led the charge in gains at Rs1,102.60 per piece, up 1.1%, Balkrishna Industries was nearly 1% higher.
Maruti advanced nearly 0.9% at Rs7,489.25 per piece. Auto-giant, Maruti Suzuki has raised prices of Swift and CNG variants effective from Monday onward, owing to an increase in various input costs. Bharat Forge and Tata Motors were arounf 0.75% higher each.
Exide India, Ashok Leyland and TVS Motor also made significant gains. Bosch, hero MotoCorp and Eicher Motors also traded higher. Amara Raja Batteries and MRF traded flat.
Bajaj Auto dragged 0.84% at Rs3,962.40 per piece while Mahindra & Mahindra was also marginally lower.
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