Shares of Hero MotoCorp and Bajaj Auto continued to slide for the second straight session today, down up to 2 per cent, in an otherwise positive broader market sentiment amid concerns of a possible price war.
The scrip of Hero MotoCorp fell by 1.97 per cent to end at Rs 3,101.45 on BSE. Intra-day, it lost 4 per cent to Rs 3,037.10 -- its 52-week low.
Hero was the worst hit among the 30-share blue chips.
Bajaj Auto dipped 1.42 per cent to settle at Rs 2,650.80. During the trade, it declined 2.71 per cent to hit its one year low of Rs 2,616.
Shares of the two-wheeler makers had plunged up to 6 per cent in the previous trading session also.
According to reports, two-wheeler industry might face aggressive pricing amid intense competition to gain market share.
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Bajaj Auto's scrip had on Friday also plunged over 9 per cent after the company's first quarter earnings came below market expectations.
Markets continued their winning momentum today, with the benchmark Sensex rising by 106.50 points to close at a fresh peak of 36,825.10.