Auto shares skid as companies report zero domestic sales in April

The Nifty Auto index fell 7.33 per cent as compared to 5.1 per cent decline in the Nifty50 index

Shares of automobile companies declined on Monday as many firms reported nil sales in the month of April after a nationwide lockdown kept factories and showrooms shut.

At 10:11 AM, the Nifty Auto index was down 7.33 per cent as compared to 5.1 per cent decline in the Nifty50 index.

Among individual stocks, Tata Motors plunged 12.6 per cent to Rs 81.50 on the NSE. Besides, TVS Motor, Maruti Suzuki India, Ashok Leyland, Bajaj Auto, Mahindra & Mahindra, and Hero MotoCorp fell in the range of 6-7 per cent. Eicher Motor declined 5.32 per cent.

Auto ancillary stocks also fell.