Auto stocks skid; M&M, Maruti, Hero Moto Corp, TVS Motors plunge up to 12%

Lavern Vogel

Equity markets witnessed but a different spherical of across-the-board offer-off on Monday as India, alongside with, other nations around the world went into a lockdown to stem the distribute of Coronavirus (Covid-19) pandemic.

Automobile shares slumped as some of the country’s best automakers took the direct in suspending creation to safeguard its personnel as Covid-19 carries on to distribute regardless of lockdowns. At 09:40 am, the Nifty Automobile index was buying and selling 9.6 for each cent lessen at 4,853.forty five degrees with all the 15 constituents buying and selling in the crimson. Mahindra & Mahindra (M&M) was the best loser with eleven.58 for each cent lower at Rs 285, followed by Hero MotoCorp (eleven for each cent), Maruti (eleven for each cent), and TVS Motor Co (down 10 for each cent).

In comparison, the Nifty50 index was buying and selling 9 for each cent lessen at 7,959.fifty degrees.

Maruti

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