Auto ancillary stocks jump as Automotive Axles surges 17%
In short
Auto ancillary shares jumped in Friday’s intraday trade on the BSE.
Automotive Axles rose 17%, Sharda Motors Industries gained 14%, and Fiem Industries added 10%.
What the reporting says
Automotive Axles surged 17%, while Sharda Motors Industries rose 14% and Fiem Industries gained 10% in Friday intraday trade on the BSE, according to a Business Standard Markets summary. The move lifted auto ancillary shares broadly in a single session. No reason for the rally was provided in the source snippet.
Why it matters
Automotive Axles, Sharda Motors Industries and Fiem Industries rose sharply in Friday intraday trading on the BSE, with gains of 17%, 14% and 10% respectively, according to a Business Standard Markets summary. The source shows a strong one-day move in auto ancillary shares but gives no catalyst. The immediate market impact is positive for these stocks.