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The Economic Times
The Economic Times
Veer Sharma

Tata Motors PV, Maruti Suzuki, Ashok Leyland, auto stocks drop up to 3% as RBI signals rate cuts are ‘off the table’

Maruti Suzuki RBI Tata Motors Ashok Leyland MM MPC Veer Sharma Inflation SEBI

Shares of automobile manufacturers Tata Motors, Maruti Suzuki, Mahindra & Mahindra and Hyundai Motor India, among others, declined up to 3% on Wednesday amid sharp selling pressure after the Reserve Bank of India raised the repo rate by 25 basis points to 5.50% and shifted its policy stance to ‘calibrated tightening’.

The Nifty Auto index fell over 1%, with major constituents under pressure. Maruti Suzuki, Tata Motors PV, M&M and Hyundai declined over 2%, while Ashok Leyland slipped more than 3%. Among two-wheelers, Hero MotoCorp, TVS Motor Company and Bajaj Auto fell over 2%.

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