Read more about Auto stocks slide on Business Standard. Auto stocks were trading with losses, with the S&P BSE Auto index decreasing 42.57 points or 0.18% at 23972.41 at 13:49 IST.
Second wave hit the market just when it had begun to recover from its worst-ever slowdown Published: June 06, 2021 13:05 Bloomberg Mahindra s XUV 300 crossover. India s Mahindra will invest 30 billion rupees ($410 million) in EVs in the near term and launch six models in the next few year. Image Credit: Supplied
Mahindra & Mahindra Ltd. says India car sales will take almost another year to return to pre-pandemic levels after a resurgent outbreak shuttered auto plants and showrooms.
The rebound may happen faster as India is starting to see a huge flurry of activities over the last week as infections decline and lockdowns ease, Mahindra Group Chief Executive Officer Anish Shah said in a Bloomberg Television interview Thursday. But we have to wait and see whether that really takes off. If we go back to 2019 levels I think that would likely be starting around April next year.
Maruti Suzuki India on Wednesday said it has entered into a partnership with Delhi government to set up 12 automated driving test centres across the city.
Maruti Suzuki India Ltd is quoting at Rs 7202.6, up 0.25% on the day as on 12:49 IST on the NSE. The stock is up 26.58% in last one year as compared to a 55.93% spurt in NIFTY and a 63.27% spurt in the Nifty Auto.
Maruti Suzuki India Ltd gained for a fifth straight session today. The stock is quoting at Rs 7202.6, up 0.25% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.4% on the day, quoting at 15638.4. The Sensex is at 52028.77, up 0.35%. Maruti Suzuki India Ltd has risen around 10.67% in last one month.
Meanwhile, Nifty Auto index of which Maruti Suzuki India Ltd is a constituent, has risen around 11% in last one month and is currently quoting at 10647.75, down 0.16% on the day. The volume in the stock stood at 2.46 lakh shares today, compared to the daily average of 6.22 lakh shares in last one month.