The October total auto sales data which began coming out on Sunday spelled gains in trade for most of the automakers on Monday, with shares of Maruti Suzuki Ltd., Ashok Leyland Ltd., and Tata Motors (CV) Ltd. taking the lead in the rally.
The October sales met expectations despite GST led base, as the year-ago period (October 2025) was the first full month of GST Rate cut. Demand momentum continues to inch up Hero MotoCorp Ltd. and TVS Motor Company Ltd. exceeded expectations.
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Maruti shows strong growth, Hyundai surprised, Tata Motors CV, VE Commercial Vehicles continued strong trucking momentum, but tractor makers missed estimates led by high base, festive shift.
Shares of Maruti Suzuki went as high as over 3% to Rs 11,769 apiece, Tata Motors traded 2.6% higher at Rs 272.30 apiece, Ashok Leyland was up by 2.26% to Rs 148.10, and Exide Industries touched a high of Rs 341.30 after rising 1.73%.
On the flipside, shares of auto players like Bajaj Auto Ltd., Eicher Motors Ltd., HeroMoto Corp Ltd., TVS Motor Company Ltd., and Samvardhana Motherson International Ltd. traded in the red.
Eicher Motors led the decline and went as low as 1.23% to Rs 7,131 apiece, Hero Moto fell by 1.13% to Rs 5,108.50, and Bajaj Auto slipped 1% to a low of Rs 10,240 apiece.
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