Top auto stocks have plunged up to 30% this year. Check automakers' market capitalisation here
SUMMARY
Auto sector has been the worst-affected industry due to the ongoing economic slowdown in the country. Low consumer demand and liquidity crisis have pushed auto companies to cut jobs, with an estimated 200,000 workers having lost their employment owing to the downturn. With reduction in the goods and services tax (GST) ruled out by the government, the Nifty Auto index has slumped over 19 percent this year. A majority of auto stocks have eroded more than 20 percent of investors’ wealth in 2019, with Ashok Leyland leading the pack having declined 34.59 percent year-to-date. Here's how the market capitalisation of India's major automakers stands currently:
By Mousumi Paul Oct 14, 2019 3:15:04 PM IST (Updated)
Bajaj Auto is the only auto stock that is trading in green having risen about 8 percent this year. The company's market capitalisation is at Rs 85,290 crore. (Image: Reuters)
