Ashok leyland to samvardhan motson: Auto Stocks Rise after 50 BPS REPS REPS RATE CUT In RBI Mpc Meeting

Stock Market Today: Ashok Leyland to Samvardhan MOTHERSON, The Auto Stocks Saw a Sharp Rise after The rate sensitive auto stocks got a tailwind as the Reduces lending rates could spurt sales of passenger vehicles, two wheelers, commercial vehicles etc nifty auto indEx mained

Nifty Auto Index Sees Smart Gains

The Nifty Auto Index Opened at 23,343.05 Almost 1.6% Higher Than the Previous Days Closing Price of – 23,306.206 in anticipation of some rate cat announce by the reserve bank of the ribi Mpc outcome.

However the RBI Governor made a Surprise REPO RATE CUT by 50 Basis Point Coupled With CRR or Cash Reserve Ratio or CRR Cut by 100 BPS. 100 BPS represents 1%. The Repo Rate Cut by a Bumper 50 Basis Points (BPS) Lead CRR COMING DOWN to 5.50% From 6.00% Earlier.

The decisions by rbi thereby are being anticipated by investors to lead to sleep reduction in the lending rates by the banks and this in turns may lead to pick up in the automobile sales.

Key Auto Gainers

The Rise in the Auto Index was LED by Gains in Ashok Leyland Share Pries Followed by Hero Motocorp Ltd While Samvardhan MOTERESON MOTERSON MOTERSON StOD AMONG KEYG KEYG KEYG

Ashok Leyland Share Price Gained Almost 4% in the Morning Trades on Friday. Hero Motocorp and Maruti Suzuki India Share Price also SAW SAW Smart Gains of 2-3% and was not much far behing the ashok leyland share price Gains. The Balkrishna Industries Limited Share RPICE WAS Another Key Gainer Rising Up to Around 2%.

Samvardhan MOTHERSON SHARE WASMMNENT NIFTY Auto Stock Gainers,

Most Other Stocks Saw Shar Gains of Close to 1% or More. These inclined bharat forge limited, eicher motors limited, bajaj auto ltd and tvs motor company. Ltd

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