Two stocks fell 0.26% to 5.29% at 10:05 IST on BSE after media reports suggested that the Supreme Court yesterday, 15 December 2015, said it was considering a temporary ban on new diesel luxury cars and SUVs from hitting Delhi roads.
M&M slumped 5.29% to Rs 1,220.65. Tata Motors shed 0.26% to Rs 378.30
Escorts (up 0.16%), Eicher Motors (up 2.61%), Ashok Leyland (up 0.97%) and SML Isuzu (up 0.35%) rose.
Meanwhile, the S&P BSE Sensex was up 175.92 points or 0.69% at 25,496.36
Media reports suggested that the Supreme Court yesterday, 15 December 2015, said it was considering banning new diesel luxury cars and sport utility vehicles (SUVs) from hitting Delhi roads, asserting it would not allow the rich to buy such vehicles that polluted the air and affected public health. Reports indicated that the proposed restriction, on an experimental basis, would be on diesel variants with an engine capacity of over 2000 cc. Existing diesel cars can continue to ply, reports added. The restriction could be in place for three-to-four months, an extension of the National Green Tribunal's recent order banning diesel car registrations in Delhi till 6 January 2016, and would apply to all of the National Capital Region. The bench will pass formal orders today, 16 December 2015, reports said.
The proposal, if made formal, would hurt luxury car-makers across the board as most of their best-sellers are diesel-driven. There would be no sale of popular vehicles such as Mahindra & Mahindra's Scorpio and Tata Motors's Tata Safari and Sumo during the ban period, reports suggested.
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