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Auto stocks fall as retail sales drop 8.06% in February

Auto stocks declines as the auto industry’s retail sales in February dropped 8.06 per cent as weak consumer demand continues for the sixth straight month.

Mahindra & Mahindra is currently trading at Rs. 680.70, down by 3.80 points or 0.56% from its previous closing of Rs. 684.50 on the BSE. The scrip opened at Rs. 685.00 and has touched a high and low of Rs. 686.40 and Rs. 678.00 respectively. So far 43400 shares were traded on the counter.

Tata Motors is currently trading at Rs. 180.90, down by 0.70 points or 0.39% from its previous closing of Rs. 181.60 on the BSE. The scrip opened at Rs. 181.00 and has touched a high and low of Rs. 182.30 and Rs. 177.65 respectively. So far 591853 shares were traded on the counter.

Maruti Suzuki India is currently trading at Rs. 7075.00, down by 11.05 points or 0.16% from its previous closing of Rs. 7086.05 on the BSE. The scrip opened at Rs. 7100.00 and has touched a high and low of Rs. 7147.95 and Rs. 7049.00 respectively. So far 15735 shares were traded on the counter.

The Federation of Automobile Dealers Associations (FADA) of India data shows the total auto sales in February was 1,452,078, compared to 1,579,349 units last year – a drop of 8.06 per cent year-on-year (YoY). The month-on-month (MoM) drop was 15.30 per cent, from 1,714,400 units sold in January.



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