BSE Auto index jumps 100 per cent amid optimism of business growth
The hopes for the business revival and healthy growth prospects have lifted BSE Auto index to its 52-week high of 20,281.70, showing a jump of 100 per cent from its 52-week low.
The situation is expected to return to normal after the lockdown and consequently, the auto industry too is expected to grow its business in the near future. On the other hand, the demand for rural areas has been maintained, which has improved the industry sentiments.
In addition to this, auto finance has also become easier now that the operations at all levels have resumed.
Following the announcement of lockdown in March 2020, BSE Auto index had crashed to 10,141.45 on March 24, 2020, which has now recovered with a jump of 100 per cent to 20,281.70 on November 25, 2020.
Looking at the price trend, Motherson Sumi Systems has jumped approximately 195 per cent from its 52-week low of Rs 48.50 and Bajaj Auto jumped almost 73 per cent from its 52-week low of Rs 1,793.10. Similarly, Mahindra & Mahindra has jumped approximately 195 per cent from its 52-week low of Rs 245.80.