Auto Stocks Rally on GST Cut Buzz

Shares of major automakers surged up to 8% on August 18 after reports of a likely GST cut on entry-level two-wheelers, compact cars and hybrids.

Hero MotoCorp led the rally, rising over 8%. The proposed flat 18% GST, expected by Diwali, could significantly reduce costs and benefit companies like Hero, Eicher, Maruti and M&M.