business / news / / Business Today
Shares of Maruti Suzuki India Ltd, Hero MotoCorp Ltd and Eicher Motors Ltd slumped on Monday, dragging the Nifty Auto index down 2.09 per cent.
Maruti Suzuki and Eicher Motors shares fell over 4.5% each, leading sector declines.
KEY POINTS
- Nifty Auto index dropped 2.09% due to broad-based declines among major auto stocks.
- Surging crude oil prices above $100 per barrel contributed to pressure on auto stocks.
- Ongoing electric vehicle transition is creating near-term uncertainty for traditional automakers.
- Rising input costs and wage pressures are adding to margin concerns in the auto sector.
COMPANIES
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