Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Auto Stocks Nosedive As Budget Denies Relief; Maruti Suzuki, Hero MotoCorp Lead Declines

Maruti Suzuki shares fell over 6% to breach the Rs 6,000 mark for the first time since 30 March 2017, Hero MotoCorp shares also dived over 6% , and Tata Motors also declined 4%.

Trending Desk

Updated:July 8, 2019, 3:24 PM IST
facebookTwitter Pocket whatsapp
BSE
Representative image.

Auto stocks had a rough ride on Monday, i.e. 8 July, after Union Budget 2019 failed to provide any positive impetus to the ailing Indian auto sector. The BSE Auto index was down 3.3% in afternoon trade, with Maruti Suzuki India Ltd and hero MotoCorp Ltd being the biggest losers.

Maruti Suzuki shares fell over 6% to breach the Rs 6,000 mark for the first time since 30 March 2017 after the company informed bourses that it has cut vehicle production for the fifth consecutive month in June. The company said it slashed total vehicle production, including that of Super Carry LCV, by 15.6% last month to 111,917 units compared with 132,616 units in the year-ago month. Maruti had cut total production by over 18% in May and by around 10% in April.

Hero Moto Corp shares also dived over 6% to hit lowest levels in almost four years. The stock was trading at Rs 2,367, down 5.83%, at 2:25 pm on BSE.

Tata Motors also declined 4% to Rs 153.85 after the company informed that it will announce June quarter earnings on 25 July.

Among other auto stocks, Motherson Sumi Systems was down 4.7%, Apollo Tyres and TVS Motor dropped 4% each, Eicher Motor declined 3%, while Bajaj Auto slipped 2.5%.

Analysts at Prabhudas Lilladher, in their post-budget report, said: “We have turned underweight in automobiles and have removed Ashok Leyland from model portfolio. We are now equal weight on M&M (Mahindra and Mahindra Ltd) due to likely pressure on tractors, limited success of new SUV launches and higher exposure to diesel than other players.”

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Yes Bank 56.25 0.45
SBI 316.70 -1.03
Indiabulls Hsg 258.95 -4.96
Maruti Suzuki 6,994.75 1.57
Reliance 1,572.60 1.14
Company Price Change %Gain
Yes Bank 56.20 0.36
Indiabulls Hsg 259.00 -4.92
SBI 316.75 -0.95
RBL Bank 334.95 -1.14
Reliance 1,572.55 1.13
Top Gainers
Company Price Change %Gain
BPCL 499.65 2.28
HDFC 2,311.40 2.06
Adani Ports 373.60 2.03
Axis Bank 732.00 2.01
JSW Steel 258.85 1.87
Company Price Change %Gain
HDFC 2,310.60 2.06
Axis Bank 731.95 2.01
Maruti Suzuki 6,997.25 1.68
Reliance 1,572.55 1.13
Hero Motocorp 2,378.00 0.66
Top Losers
Company Price Change %Gain
TCS 2,060.45 -2.97
Cipla 447.90 -1.66
HCL Tech 552.05 -1.47
Zee Entertain 284.15 -1.23
Larsen 1,276.00 -1.15
Company Price Change %Gain
TCS 2,060.70 -2.93
TML-D 66.50 -2.06
HCL Tech 551.60 -1.54
Larsen 1,276.90 -1.04
Tech Mahindra 750.55 -0.98

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results