Car stocks fall in a bad show in November sales data
NEW DELHI: Shares of major auto companies fell on Monday due to poor presentation of November sales data. Shares of Maruti Suzuki India fell 1.18 percent to 7,164.20 rupees in the BSE and 1.31 percent to 7,151.20 rupees in the NSE.
Tata Motors fell marginally 0.12 percent to Rs 161.25 in the BSE and 0.05 percent to Rs 161.45 in the NSE.
Mahindra and Mahindra (M&M) shares fell 1.15 percent to Rs 523.95 in the first operations of the BSE. Later, it recovered losses to trade 0.21 percent above Rs 531.15. In the NSE, the shares were quoted 0.01 percent to 530.50 rupees.
Bajaj Auto recorded a decrease of 0.54 percent to Rs 3,158.95 in the BSE and 0.66 percent to Rs 3,154 in the NSE.
M&M reported on Sunday a nine percent drop in total November sales by 41,235 units.
The country's largest automaker, Maruti Suzuki India, reported a 1.9 percent drop in sales to 1.50,630 units.
Tata Motors saw a 25.32 percent drop in total sales to 41,124 units.
Bajaj Auto reported on Monday a marginal drop of 0.9 percent in total sales to 4.03,223 units during the month.