D-Street Buzz: Auto stocks rally led by Bajaj Auto; Ashok Leyland, Hero Moto, Tata Motors, Eicher Motors hit 52-week high
The Indian stock market is trading at the day's low with Sensex down 468.23 points or 0.94 percent at 49156.53, and the Nifty shedding 134.50 points or 0.92 percent at 14455.90.
Among the sectors, the auto index was up 2 percet led by Bajaj Auto which jumped over 7 percent. The two-wheeler manufacturer clocked its highest-ever standalone profit of Rs 1,556.3 crore in the December quarter, rising 23.4 percent compared to the year-ago period, driven by volume growth and operating performance.
Its revenue increased by 16.6 percent year-on-year to Rs 8,910 crore, which was also the highest for a quarter. Volumes grew by 9 percent YoY, driven by a 26 percent growth in motorcycle exports and an 8 percent increase in domestic volumes but the three-wheeler segment declined 36 percent year-on-year.