Nifty Auto at all-time high ahead of November sales figures
The Nifty Auto index on November 30 rocketed to a new high of 17,555, rising by 0.5% from the previous close, as investors eagerly await November's monthly sales data. The automobile industry had a great festive season, selling 37.93 lakh vehicles, a 19% jump from last year's 31.95 lakh, as per the Federation of Automobile Dealers Association (FADA). This growth spanned across two-wheelers, three-wheelers, commercial vehicles, and passenger vehicles.
Tata Motors down, Hero, Eichers gain
On November 30, shares of India's top automobile manufacturer Maruti Suzuki ended flat at Rs. 10,608.70, up 0.09% from its previous close. Tata Motors, the biggest electric vehicle producer in the country, faced a minor setback of 0.84% to close at Rs. 706.40. In contrast, Mahindra and Mahindra, Eicher Motors, and Hero Motocorp saw gains of nearly 3% each. TVS shares remained relatively stable, with a slight 0.1% decline.
Sector-wise sales growth during festive period
The 42-day festive period was a big win for different parts of the auto industry. Two-wheeler sales sales shot up by 21%, three-wheelers by 41%, trucks by 8%, and cars by 10%. This surge contributed to the overall increase in vehicle sales during the festive season. With November's sales data coming soon, the Nifty Auto index hitting an all-time high shows investors are expecting more good news for the auto sector.
