A day before the release of auto sales data, Nifty Auto touched a new high of 22,576.85, with Mahindra and Mahindra Ltd. gaining the most.
According to analysts, a handful of companies in the auto sector are good bets and will continue to see growth.
"It's more of handful of stocks that are participating in the rally in autos, and I believe it will continue to happen going ahead," said Aditya Agarwala, head of research and investments at Invest4edu Pvt.
While the top pick by analysts includes Mahindra and Mahindra—which touched a new life high on Tuesday at Rs 2,162.25 apiece—Agarwala said that commercial vehicle stocks also saw a maximum jump.
Intraday, the Nifty rose 0.62% to a record high of 22,783.35 and the Sensex gained 0.59% to 75,111.39.
A day before the release of auto sales data, Nifty Auto touched a new high of 22,576.85, with Mahindra and Mahindra Ltd. gaining the most. According to analysts, a handful of companies in the auto sector are good bets and will continue to see growth.
"It's more of handful of stocks that are participating in the rally in autos, and I believe it will continue to happen going ahead," said Aditya Agarwala, head of research and investments at Invest4edu Pvt.
While the top pick by analysts includes Mahindra and Mahindra—which touched a new life high on Tuesday at Rs 2,162.25 apiece—Agarwala said that commercial vehicle stocks also saw a maximum jump. Other auto picks include Eicher Motors Ltd., Ashok Leyland Ltd. and Bajaj Motors Ltd.
On Tuesday, the NSE Nifty 50 ended 45.60 points, or 0.20%, lower at 22,597.80, and the S&P BSE Sensex closed 188.50 points down, or 0.25%, at 74,482.78. Intraday, the Nifty rose 0.62% to a record high of 22,783.35 and the Sensex gained 0.59% to 75,111.39.
