Auto stocks fall as SC bans sale of BS-III vehicles from April 1

Shares of automakers fell after Supreme Court today imposed a ban on sale of BS-III vehicles from April 1, 2017. The apex court said that the manufacturers were fully aware of April 1 deadline in advance, adding that public health more important than inventories.
 
The Nifty Auto index fell nearly 1% post the decision dragged by HeroMoto Corp, Ashok Leyland, M&M and Tata Motors.
 
 At 2:28 pm HeroMoto Corp was trading 4% down followed by Ashok Leyland (down 3.6%), M&M (down 0.8%) and Tata Motors (down 0.6%) while Motherson Sumi and Bajaj Auto continued trading in positive.