Auto stocks remained in focus on Wednesday after manufacturers reported their June sales, with Ashok Leyland Ltd. emerging as the biggest gainer after posting a stronger-than-expected performance.
Ashok Leyland shares climbed as much as 4.76% intraday before trading 4.48% higher at Rs 164.77. The rally came after the commercial vehicle maker reported total sales of 19,194 units, comfortably ahead of Street estimates of 15,839 units. Total sales rose 25% year-on-year, led by a 24% increase in medium and heavy commercial vehicle (M&HCV) sales to 12,156 units, while light commercial vehicle (LCV) sales grew 28% to 7,038 units.
Mahindra & Mahindra Ltd. was another outperformer. The stock rose as much as 3.18% during the session before trading 2.23% higher at Rs 3,137.30. The company reported a 37% jump in total vehicle sales to 1.06 lakh units, while passenger vehicle sales increased 28% to 60,393 units, comfortably beating analyst estimates of 52,965 units. Export volumes also more than doubled to 5,918 units, highlighting continued momentum in overseas markets.
Get all the live updates on the June Auto Sales data here.
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Maruti Suzuki India Ltd. traded 1.08% higher at Rs 14,268, after touching an intraday high of 3.07%. India's largest carmaker reported total sales of over 2 lakh units in June, up 19% from a year earlier. Domestic sales climbed 21%, passenger vehicle sales rose 24%, and exports increased 13%. However, overall volumes came in slightly below analyst expectations of 2.15 lakh units, tempering gains.
Ola Electric Mobility Ltd. also attracted investor interest. The stock advanced 2.65% after rising as much as 4.84% intraday. The electric two-wheeler maker reported 16,144 registrations in June, while first-quarter registrations nearly doubled sequentially to 43,719 units, reflecting improving demand.
In contrast, Hyundai Motor India Ltd. underperformed after missing sales estimates. The stock rose only 0.70%, despite gaining as much as 1.70% earlier in the day. The automaker reported total sales of 51,335 units, well below analyst expectations of 62,521 units. The company attributed the weaker numbers to a fire at one of its manufacturing facilities, which resulted in a production loss of around 13,900 units during June. Hyundai said operations have since returned to normal and expects to recover the lost production during the second quarter of FY27.
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