Shares of four automobile companies rose from 1.08% to 9.85% after the Reserve Bank of India (RBI) on Friday slashed the key repo rate by 75 basis points, to help arrest the economic slowdown in the wake of the coronavirus (Covid-19) outbreak.
The Nifty Auto index gained 0.24% at 5,073.70, underperforming the Nifty 50 index's 1.49% rise to 8,770.50.Ashok Leyland (up 9.85%), Escorts (up 2.87%), Tata Motors (up 2.54%) and Eicher Motors (up 1.08%) gained.
However, Hero MotoCorp (down 5.39%), Bajaj Auto (down 4.41%), Maruti Suzuki India (down 2.07%), Mahindra & Mahindra (down 0.78%), declined.
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