Auto stocks fall as government proposes hike in vehicle registration charges
Updated : July 29, 2019 02:03 PM IST
Shares of auto stocks declined on Monday amidst news reports that the government has proposed a hike in vehicle registration charges. Maruti Suzuki, Bajaj Auto, Hero MotoCorp and Ashok Leyland touched their 52-week low on Monday.
CLSA in its research report said, “Contrary to hopes of some policy support for autos, the government has proposed a hike in vehicle registration charges, which would raise on-road prices of new vehicles by c.0.5 percent-2 percent."
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