Auto stocks ride higher; M&M, Maruti Suzuki, TVS Motor hit new high

At 01:59 PM; the S&P BSE Auto index (26,369) and Nifty Auto index (11,821) were up 2% each, against 0.4% rise in the benchmark indices.

Shares of automobile companies were on a roll with the S&P BSE Auto index and Nifty Auto index hitting their respective new highs on Tuesday on expectation of pickup in demand.

Motherson Sumi Systems, Bharat Forge, Hero MotoCorp, TVS Motor Company and Eicher Motors were up between 3% and 4%, while, Ashok Leyland, Tata Motors, Maruti Suzuki India and Bajaj Auto up 2% on the BSE.

At 01:59 PM; the S&P BSE Auto index (26,369) and Nifty Auto index (11,821) were up 2% each, hitting new highs on the BSE and NSE. On comparison, the benchmark indices the