Tata Motors, Maruti, Bajaj Auto, Eicher Motors: Auto stocks rally on RBI rate cut 

Auto stocks such as Tata Motors, Maruti, Hero MotoCorp, Bajaj Auto, Eicher Motors, M&M, Ashok Leyland, TVS Motors and M&M rose up to 3% in early deals after RBI cut repo rate by 50 bps to 5.5% in the monetary policy today. On similar lines, the Nifty auto index rose 253 pts to 23,554 against the previous close of 23,306. 

Auto ancillary shares such as Bharat Forge, Sundaram Fasteners, Motherson Sumi Wiring, Bosch Ltd, TI India, Uno Minda also rose up to 2% on BSE. 

BSE auto index also rose 657 pts to 52,964. Invetors turned positive on the auto stocks as banks are expected to lend at lower rates for auto loans, pushing up sales for these auto majors. 

Meanwhile, Sensex rose 650 points to 82,096 and Nifty gaioned 243 pts to 24,993 in the morning session today on the back of a stellar rally in banking and auto stocks.