Maruti Suzuki, Tata Motors: Auto stocks face major hurdles amid Covid surge

Automobile and financial stocks dominate the list of companies where analysts have scaled back their earnings estimates for FY22

Car market leader Maruti Suzuki India, on Saturday, said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, “keeping in view the current pandemic situation”. A host of other automobile manufacturers, including Mahindra & Mahindra, Toyota Kirloskar, Honda Motorcycle and Scooter India, Ford India, and BMW India, have taken a call either to advance the shutdown or extend it due to the pandemic.

In a report, Centrum Broking said that April was anticipated to be a good month for two-wheelers on the back of mini-festivals at the regional level and marriage season demand