Bharat Forge advanced 4.8% at Rs645.60 per piece to lead the charge while Motherson Sumi gained 2.7% at Rs221.45 per piece.
Motherson Sumi continued to rise on concluding acquisition of EWIS in Mexico. Motherson Sumi Systems (MSSL), via its Mexican subsidiary, Motherson Rolling Stocks S. de R.L. de C.V. (MRS), has successfully completed the acquisition of assets and activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportations manufacturing site in Huehuetoca, Mexico (BT Ensambles Mexico).
Balkrishna Industries also saw buying activity and its stock gained over 2%. Exide India also advanced 0.91%. TVS Motor Company and Tata Motors also traded higher. Bajaj Auto, Hero MotoCorp, Ashok Leyland and Eicher Motors were trading flat.
Amaraja batteries was the biggest laggard, trading 1.08% down at Rs773.85 per piece.
Mahindra & Mahindra continued to struggle at Rs746.45 per piece, down 0.86%, despite annoucing a share purchase agreement to acquire shares from certain existing shareholders of Meru Travel Solutions Private Limited (“Meru”). M&M would acquire 44.14% shares from Private Equity investor, True North and others for an amount not exceeding Rs76.03cr.
Mahindra & Mahindra Ltd., also announced that due to the evolving COVID situation in the country, the company has decided to prepone the scheduled maintenance of four working days, in each of its Automotive Division to May instead of June.
MRF and Maruti also dropped over 0.5%.
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( With inputs from indiainfoline)