Auto stocks in focus; Nifty Auto index up 5%, Tata Motors surges 15%

Ashok Leyland and Hero MotoCorp surged over 10 per cent each

Shares of automobile companies rallied on Thursday, led by Tata Motors which surged as much as 15 per cent on the NSE. The Nifty Auto index gained 5.1 per cent and was the top sectoral gainer. In comparison, the Nifty50 index was up 2.9 per cent at 10:15 AM.

Among individual stocks, Tata Motors surged 14.77 per cent to Rs 89.70 in the biggest one-day gain for the stock in six months after reports said that Jaguar Land Rover had restored three-fourth of its budgeted production in China. According to a report in Mint, with lockdown measures easing in China