India: Auto stocks tumble to 9 pc as sales lowest in 19 yrs
New Delhi, Aug 13 (PTI) Auto stocks tumbled up to 9 per cent on Tuesday after industry body SIAM reported that automobile sales in India witnessed sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months.
Shares of Motherson Sumi Systems tanked 8.94 per cent, Bharat Forge fell 6.13 per cent, M&M plunged 6.11 per cent, Bosch fell 5.43 per cent, Eicher Motors declined 5.31 per cent and TVS Motor Company fell 5.07 per cent.