Auto Stocks Surge as GST Cuts Drive Rally

Indian automakers’ shares surged on September 4, lifting the Nifty Auto index over 3% to an 11-month high after the GST Council slashed tax on small cars, two-wheelers (≤350cc), three-wheelers, and ambulances to 18%, and tractors to 5%. Premium vehicles and large hybrids moved to 40% GST.

M&M, Escorts, Tata Motors, and Maruti led gains.