A maturing market amid the mayhem
Auto index jumps 1.5 percent
The BSE Auto Index gained 1.5 percent on Friday with Hero Honda and Tata Motors posting gains of over 3 percent.
Ashok Leyland was the star performer among index counters with gains of over 8 percent. The company said March quarter net profit more than quadrupled on higher sales, but warned of supply constraints and margin pressure in the future.
Over the month, Tata Motors shares have surged over 15 percent.
Apollo Tyres closed down 2.7 percent and was among the four sectoral stocks, which included Maruti Suzuki, which ended in the red.
The auto index has not moved much in April, gaining just 1.7 percent, but has done better than the BSE Sensex which has been almost flat for the period.
Would you place your bets on stocks in this sector now?