According to brokers, the run for these stocks is also due to limited investment options in high-yielding IT, telecom and media sectors. The valuations seem to be attractive as the closing prices were 36-68 per cent lower than their year's high.

Bajaj Auto, which touched Rs 274.75 on Monday, is still 37 per cent lower than its 52-week high of Rs 437. The stock rose by over 13 per cent during the last week, from Rs 58.5 on January 5 to Rs 67 on January 12. High growth in motor cycle sales and expectation of better future due to expected launch of low-cost stripped-down scooters lead the spurt in stock prices. Lead by `Caliber', bike sales shot up by 89 per cent during quarter-ended December 2000, while they were up 111 per cent in November over the same period last year.

However, the scooter sales have skidded and the company is selling on an average about 20,000 units lower. In a bid to attract the consumers back to scooters the company has lined up stripped down models which are expected to be lighter on the pockets of consumers by Rs 5,000 - Rs 7,000.

Kinetic Motors, which has been the only scooter manufacturer to post profits, was the only auto-scrip to trade at its 52-week high. The stock touched Rs 72.35 on Monday and has gained over 14.5 per cent over its previous week close. The company's bottom line tripled during the quarter ended September 2000 over the same period in the previous year, posting a gain of Rs 6.57 crore up from Rs 2.05 crore.

The mobike market leader Hero Honda has been another gainer during the week. Though the stock closed lower at Rs 916.55 on Friday and Rs 864.65 on Monday, it touched a week high of Rs 943.95 on January 10, gaining by 3.67 per cent over previous week close. The stock is trading at a discount of 36 per cent from its 52-week high.

With a 42.8 per cent jump in profits during the first eight months of the current fiscal and a market share of 47.7 per cent in motorcycles, the company seems to be pleading the pack.

However, in view of competition from Bajaj Auto, TVS Suzuki, Escorts Yamaha and the new entrant LML, the company has lined up new models. It recently launched `Passion,' a trendy version of immensely successful `Splendor,' for the youth segment.

TVS Suzuki, which closed higher at Rs 165.20 on Monday, is trading 44 per cent below its year high of Rs 295. The company has been on a higher growth path after the launch of its 150 cc `Fiero' model.

LML has also got into mobikes in collaboration with Daemlin, has been loosing ground on the bourses. However, with the launch of its `Aldreno' and `Energy' models, it is targeting a growth in bottom lines. The scrip is currently trading 67 per cent below its 52-week high of Rs 91 and 25 per cent below its book value.