A maturing market amid the mayhem
Auto index gains 1.8 pct
The BSE Auto Index gained 1.79 percent on Monday in a broader market that ended 0.6 percent higher at 17,102.
The rise in the Auto Index was led by MRF, Hero Honda, M&M and Maruti Suzuki.
Mahindra & Mahindra topped the list of gainers in the sectoral index as well as the main benchmark index, closing 4.3 percent higher at 1122 rupees with volumes of 0.2 million.
Latest data from the Society of Indian Automobile Manufacturers (SIAM) shows that car sales in India have climbed for 13 months in a row, reaching 153,845 in February from 115,505 in the same month a year earlier.
There is a possibility of rise in prices of vehicles from April 1 as a result of the budget proposal to raise factory gate duties by 2 percent.
Do you think shares in this sector will fall in the near future?