Auto stocks in huge demand; Maruti jumps nearly 7%

New Delhi: Auto stocks were in huge demand on Tuesday, with Maruti Suzuki India surging nearly 7 per cent, amid reports that the UP government has waived registration taxes on hybrid cars as part of its initiative to promote environmentally friendly vehicles in the state.

Shares of Maruti jumped 6.60 per cent to settle at Rs12,820.20 on the BSE. During the day, it soared 7.72 per cent to Rs12,955. At the NSE, it climbed 6.51 per cent to Rs12,807. As per reports, the Uttar Pradesh government has announced a waiver of road tax on hybrid cars. Buying was seen in other auto stocks. Shares of Mahindra & Mahindra went up 2.51 per cent, Hero MotoCorp climbed 1.53 per cent, TVS Motor Company (1.36 per cent), Tata Motors (1.24 per cent) and Bajaj Auto (0.18 per cent) on the BSE.