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India's auto stocks rise as strong October sales signal resilient festive demand

By Reuters News

Nov 2 (Reuters) - Shares of Indian automakers rose on Monday after strong October sales underscored resilient festive demand, with analysts favouring two-wheeler and commercial vehicle makers as rising input costs pressure passenger-vehicle manufacturers.

The Nifty Auto index .NIFTYAUTO rose 1.2% as of 9:17 a.m. IST. Shares of Maruti Suzuki MRTI.NS climbed 2.82% to 11,718 rupees, while TVS Motor TVSM.NS gained 2.01% to 4,279.6 rupees, and Tata Motors Passenger Vehicles TAMO.NS advanced 2.13% to 271.05 rupees.

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