Auto stocks down on February sales; Bajaj Auto falls most

Shares in Bajaj Auto fell sharply on Monday after the two-wheeler manufacturer reported lower than expected sales number in February. Bajaj Auto sold 3,32,387 units in February, down 3 per cent as compared to last year.

Analysts had estimated February sales at 3,45,000 units. Bajaj Auto shares were down 2.3 per cent to Rs 1,977.35 as of 10.23 a.m.

All other listed auto firms traded with deep cuts on weak sales number.

Shares in Maruti Suzuki were down 1.8 per cent after India's biggest car manufacturer reported 9 per cent fall in sales.  Hero MotoCorp shares were down 1.4 per cent after India's bigger two-wheeler maker reported 4 per cent drop in February sales.

However, Tata Motors, which reported a 33 per cent slump in sales, traded flat. That's because the company's entire profit comes from the sales of luxury Jaguar Land Rover brands.