NEW DELHI: Shares of auto-makers like Ashok Leyland, Maruti Suzuki, Hero Moto and TVS Motor today rose as much as 7 per cent, driven by June sales data and GST rollout.
Car and two-wheeler companies are slashing prices of their different models to pass on to customers the benefits of lower tax incidents under the new GST regime.
Shares of Hinduja Group flagship Ashok Leyland settled on the bourse at Rs 100.25, up 6.82 per cent from the previous close, while Maruti Suzuki India ended the day 1.96 per cent up at Rs 7,359.30.
Two-wheeler maker Hero MotoCorp's shares jumped 2.17 per cent to close at Rs 3,777, rival TVS Motor Company settled at Rs 552.10, up 0.48 per cent from the previous close.
Mahindra & Mahindra stock ended the day at Rs 1,363.95, up 1.21 per cent from the previous close.
However, shares of Tata Motors dipped 0.43 per cent on BSE to end at Rs 430.65.
Ashok Leyland, Maruti Suzuki India, Hero MotoCorp and TVS Motor Company have reported a rise in domestic sales in June while Tata Motors and Mahindra & Mahindra have reported a decline.
Several auto companies have announced rate cuts in the wake of the introduction of Goods and Services Tax from July 1.