India's auto stocks rise as strong October sales signal resilient festive demand

Mahindra And Mahindra

Yesterday 03:50

Nov 2 (Reuters) - Shares of Indian automakers rose on Monday after strong October sales underscored resilient festive demand, with analysts favouring two-wheeler and commercial vehicle makers as rising input costs pressure passenger-vehicle manufacturers. 
The Nifty Auto index .NIFTYAUTO rose 1.2% as of 9:17 a.m. IST. Shares of Maruti Suzuki MRTI.NS climbed 2.82% to 11,718 rupees, while TVS Motor TVSM.NS gained 2.01% to 4,279.6 rupees, and Tata Motors Passenger Vehicles TAMO.NS advanced 2.13% to 271.05 rupees.
     
       

(Reporting by Surbhi Misra in Bengaluru; Editing by Rashmi Aich)
((Surbhi.Misra@thomsonreuters.com ||  www.linkedin.com/in/surbhi-misra9/;))