Mahindra & Mahindra surged by 2.52%. TVS Motor, Hero Moto Corp, and Tata Motors moved up by about 1% on Monday. The festive season, which starts in the second half of September, is expected to drive demand across segments within the auto industry, said analysts.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction