Auto shares rebound on stimulus continuation

Shares of automobiles companies bounced back from their intra-day lows after the government did not withdraw the excise duty cut.

TVS Motor, Mahindra & Mahindra, Ashok Leyland and Maruti Suzuki gained around 3% each.

The Bombay Stock Exchange (BSE) Auto index recovered almost 200 points from its intra-day low and currently is trading 1% higher.