Auto stocks crack up to 7% on Trump tariffs; Tata Motors, Samvardhana Motherson top laggards
Auto stocks dropped by up to 7% in early trade on Thursday, led by Tata Motors, as Trump’s 25% tariff decision is expected to affect several domestic auto companies, including the Indian auto major, which exports Jaguar Land Rover (JLR) cars to the US.
Samvardhana Motherson International, which operates in Europe, also saw its stock fall 7%, hitting the day’s low of Rs 124.73 on the NSE.
The Nifty Auto index was down 1.6% and trading at 21,385, with 14 stocks trading in the red and a lone stock in the green. Bharat Forge, Ashok Leyland, Balkrishna Industries, Eicher Motors, Bajaj Auto, Apollo Tyres, MRF, TVS Motor Company, Mahindra & Mahindra, Marui Suzuki, and Hero MotoCorp were down between 3% and 0.2%. Exide Industries was marginally…
