September delivered a mixed reading for India’s auto sector at a time when the broader stock market reeled under uncertainty, extending its losing streak to eight straight weeks for the first time in 25 years.
The weakness was also visible across auto stocks. Bajaj Auto closed 8% lower, Mahindra & Mahindra slipped to a 52-week low, while Escorts Kubota declined up to 5%. TVS (down 3%), Hero MotoCorp and Ather Energy down 1%. Maruti Suzuki, India’s largest car manufacturer, declined 5%, while rival Tata Motors PV was down 2% and CV major Ashok Leyland also declined 2%. .
