The companies reported better-than-expected sales for December 2024. Bajaj Auto, TVS Motor Company, and Hero MotoCorp ended the day with gains of 3-4 per cent.
The BSE Auto and Nifty Auto indices were the top gainers among sectoral indices, rising about 3.6-3.8 per cent, outpacing the 1.8 per cent increase in the BSE Sensex. Over the past two days, the auto index has rallied by 5 per cent. In December, the index had underperformed the market with a 2.3 per cent decline.
Among individual stocks, Eicher Motors hit a record high of ₹5,308 at the close, rallying 8.7 per cent after the company reported a 25 per cent year-on-year (Y-o-Y) increase in total motorcycle sales, reaching 79,466 units in December 2024.
International business saw a 90 per cent growth with 17,575 units sold. The stock surpassed its previous high of ₹5,104.5 on September 27, 2024. The management indicated that the response to recently launched motorcycles in both Indian and international markets had been encouraging.
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