Auto shares trade weak on concerns of production cut due to slower demand

TVS Motor Company, Eicher Motors and Hero MotoCorp were dipped in the range of 2 to 3 per cent, while Ashok Leyland, Bajaj Auto and Maruti Suzuki India down 1 per cent each on the NSE

Shares of automobiles companies were trading weak for the second straight day on concerns of production cut due to slower demand.

TVS Motor Company, Eicher Motors and Hero MotoCorp dipped in the range of 2 to 3 per cent, while Ashok Leyland, Bajaj Auto and Maruti Suzuki India were down 1 per cent each on the National Stock Exchange (NSE).

At 11:31 am, Nifty Auto index was down 1 per cent at 8,552 points, as compared to 0.05 per cent rise in the benchmark Nifty 50 index.

The stock of Maruti Suzuki India (MSIL) has fallen nearly 4 per cent