Auto stocks skid; M&M, Maruti, Hero Moto Corp, TVS Motors plunge up to 12%

Maruti Suzuki India (MSI), the country's largest carmaker, said it was suspending production at its facilities in Haryana "till further notice".

Equity markets witnessed yet another round of across-the-board sell-off on Monday as India, along with, other countries went into a lockdown to stem the spread of Coronavirus (Covid-19) pandemic.  

Auto stocks slumped as some of the country’s top automakers took the lead in suspending production to safeguard its employees as Covid-19 continues to spread despite lockdowns. At 09:40 am, the Nifty Auto index was trading 9.6 per cent lower at 4,853.45 levels with all the 15 constituents trading in the red. Mahindra & Mahindra (M&M) was the top loser with 11.58 per cent cut at Rs 285, followed by Hero MotoCorp