Automotive counters gain traction

DALAL STREET SPIKES

Auto stocks continue to hog the limelight in a rather subdued market. The sector was active after Hero Honda, Bajaj Auto, Maruti, and TVS Motor announced their August sales figures.

Two-wheeler major, Hero Honda ended 1.06 per cent higher at Rs 447.20 on volumes of 2.75 lakh shares on the BSE. Hero Honda's August sales number reported a 31.5 per cent growth in bike sales to 1.91 lakh units from 1.45 lakh units in August 2003.

However, on a month-on-month basis, the sales are down 6.8 per cent which the analysts said was more to do with the truckers strike.

Maruti, which reported a 32.2 per cent growth in car sales for August 2004, was up to Rs 388.35 compared with the previous day's close of Rs 381.80. Bajaj Auto, however, failed to hold on to the gains and ended 0.06 per cent lower at Rs 932.05.