Delhi EV Policy impact: Auto stocks skid; Eicher dips 7%, Ather at new high

Delhi EV Policy impact: Auto stocks skid; Eicher dips 7%, Ather at new high SEBI RA - Shubh Consultancy - Sunil Kotak - INH000015826 Shares of automobile companies were under pressure, falling up to 7 per cent on the National Stock Exchange (NSE) in Tuesday’s intra-day deals after the Government of Delhi approved the new electric vehicle (EV) policy aimed at accelerating electric mobility adoption in the capital. At 09:32 AM, the Nifty Auto index was down 1.2 per cent, as compared to 0.22 per cent decline in the Nifty 50. In the past two trading days, auto index slipped 3.25 per cent. Among individual stocks from the Nifty Auto index, $EICHERMOT , parent of Royal Enfield, global leader in the middleweight motorcycles segment (250cc - 750cc), plunged 6.5 per cent. The stock price of Bharat Forge declined 5 per cent. Hero MotoCorp, Bajaj Auto, Uno Minda, Sona BLW Precision Forgings and Samvardhana Motherson International were down in the range of 1 per cent to 3 per cent. All this is for information. This is not a buy/sell recommendation. Thank you, Technofunda24