A maturing market amid the mayhem
BSE Auto Index climbs
The BSE Auto Index shored up as the top performing index in Monday’s trade with gains of 1.8 percent.
Mahindra & Mahindra and Tata Motors led the list of gainers, rising over 4 percent each during trade.
Other stocks which contributed to the Auto Index’s rise were Escorts, which rose 10.1 percent, TVS Motor, which climbed 9.59 percent, and Ashok Leyland which ended 5.5 percent higher.
Auto stocks have rewarded investors well in 2009, with the index gaining over 200 percent so far.
Car sales in India, the world’s second-most populous country, are set to jump about 16 percent this year to 1.4 million units, buoyed by robust economic growth and government incentives, in contrast to a slump in many developed markets.
Do you think auto stocks are set to post new highs in 2010?