Sensex, Nifty were in the negative zone on account of heavy selling in pharma stocks, bank and auto stocks. Metal stocks were traded lower after US President last week said that his governance would impose hefty duties on imported steel and aluminium.
Four auto stocks that are supposed to gain on Monday’s trading session include Bajaj Auto, Ashok Leyland, Tata Motors and Hero MotoCorp.
Bajaj Auto Limited has reported a 31% rise in total sales at 3,57,883 units in the month February as against 2,73,513 units that was in previous year. Overall domestic sales jumped to an extent of 35 pc to 2,14,023 units against 1,59,109 units in Feb last year, the auto major said in a statement.
Ashok Leyland Limited on Thursday said it closed February with a 29% growth in sales volume. The company sold 18181 units in Feb-2018 up from 14067 units sold in the corresponding month in 2017. In February, Ashok Leyland clocked stellar growth in sales of its light commercial vehicle selling 4,455 units up from 2,738 units sold in Feb 2017.
Tata Motors Limited has reported a 38% growth in its domestic sales volume for February, at 58,993 units as against 42,679 units due to the sustained strong sales performance of its commercial and passenger vehicles biz in the domestic market.
Hero MotoCorp clocked a stellar sales performance, driven by strong growth in scooters, in February 2018. 2-wheeler sales jumped 20% to 6.29 lakh units in Feb 2018 Year on Year.