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Shares of leading auto firms, including Maruti Suzuki (BSE:532500), Ashok Leyland (BSE:500477) and Mahindra & Mahindra (BSE:500520), fell into the negative zone on the stock exchanges after Finance Minister Pranab Mukherjee presented the Union Budget.
Tata Motors's (BSE:500570) share price fell as much as six per cent to settle the day at Rs 283.35 (US$5.84) on the BSE, after opening firm at Rs 301, it soon touched the day's low of Rs 279.
Maruti Suzuki was down 2.06 per cent at Rs 1,035, while Ashok Leyland plunged 8.15 per cent at Rs 29.30. During the day, the scrip touched the intra-day low of Rs 29.05.
Mahindra & Mahindra closed the day at Rs 710.40, down 3.67 per cent and Apollo Tyres (BSE:500877) slipped 6.89 per cent at Rs 29.05.
Analysts said the auto stocks ended the day in the negative territory as the Budget proved to be a disappointment and on concerns of widening of the fiscal deficit, even as the Finance Minister proposed a reduction in excise duty for large cars and trucks.
(PTI) rw
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