Shares of leading auto and auto component firms have been struggling on the bourses for a while now. In the last four weeks, some of these stocks have plunged up to 23 per cent. During this period, Samvardhana Motherson International (SMIL) slipped 22.8 per cent, Exide Industries by 21.2 per cent, Bajaj Auto by 20.3 per cent, Hero MotoCorp by 17.1, and Tata Motors by 16.6 per cent.
Others such as Bosch, TVS Motor Company, Maruti Suzuki India Ltd (MSIL), Bharat Forge, and MRF have declined in the range of 8-15 per cent in the last two weeks of October and the first two weeks of November.
The Nifty Auto index has crashed 13.4 per cent in the same period, as compared to Nifty 50's drop of 6.3 per cent. The downturn has come due to fears of a sustained (weak) demand outlook for passenger and commercial vehicles.
This story is from the November 16, 2024 edition of Business Standard.
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This story is from the November 16, 2024 edition of Business Standard.
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