M&M, Eicher Motors: Auto stocks jump post Oct sales data; Nifty Auto index rallies over 1%

Muhurat Trading is held every year on the occasion of Diwali.

It is believed that trading during the 'Muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders.

M&M reported domestic SUV sales of 54,504 units, a 25% growth from 43,708 units in October last year. Overall passenger vehicle wholesales, including exports, stood at 55,571 units. Domestic commercial vehicle sales totalled 28,812 units in October, M&M said.

Eicher Motors were trading over 1% higher at ₹4,950 apiece on the NSE after the company on Friday reported a 31% rise in total sales of its Royal Enfield motorcycles at 1,10,574 units in October. International business sales were at 8,688 units last month against 3,477 units in October last year, Eicher Motors said in the regulatory filing.

Sales of models with engine capacity up to 350 cc rose 27% to 96,837 units compared to 76,075 units in October last year, it added.

Last seen, 14 out of 15 constituents of Nifty Auto were trading in the green. M&M was the top gainer, followed by Exide Industries and Eicher Motors. 

Apollo Tyres was slightly in the negative zone—down 0.02%.

The Nifty Auto index was trading 1.29% higher at 23,817.45 levels.