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BSE Auto index rises

June 10, 2010

AUTO INDIA MAHINDRAThe BSE Auto Index rose 2.9 pct on Thursday, a day after domestic automakers reported record May sales.

The broader index too ended 1.6 percent higher on cues from Asian and European shares.

Car sales in India rose an annual 30 percent in May, an industry body said on Wednesday, as rising incomes and a rapidly expanding economy offset the impact of price increases.

Shares in Maruti Suzuki led the Auto Index rise, closing 3.3 percent higher at 1345 rupees, while Ashok Leyland and M&M ended 2.1 percent and 2.5 percent higher respectively.

Do you think rising costs of raw materials, interest expenses and growing competition from foreign automakers will weigh on auto shares?

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