New Delhi: Auto stocks surged on Tuesday as carmakers reported robust sales on the first day of Navratri under the revised GST regime.
A sharp rise in bookings propelled auto shares higher. Maruti Suzuki and Hyundai Motor India, in particular, witnessed strong demand on Monday, with buyers lining up to purchase popular models at lower prices under the new tax structure.
Defying the broader market’s weak trend, Hyundai Motor India shares jumped 4.69%, Maruti rose 3.24%, Mahindra & Mahindra gained 2.69%, TVS Motor Company climbed 2%, Bajaj Auto advanced 1.91%, and Tata Motors edged up 1.68% on the BSE. Maruti also touched a 52-week high during morning trading.
The BSE auto index rose 0.98% to 61,253.50 points.
The new, lower GST rates, effective Monday, reduced prices on around 375 items—from cars and TVs to daily essentials like toothpaste and shampoo—aimed at boosting consumption amid economic challenges.
