The Nifty Auto index fell by 3% in early trading on Thursday, with auto sector stocks witnessing a sharp decline. The fall was led by Bajaj Auto, which dropped 8.60% to ₹10,617.65, following a spillover from its Q2 FY25 results that fell short of market expectations.
Other major players in the auto sector also experienced significant losses:
- Hero MotoCorp: Down 4.38% to ₹5,161.70
- Bosch Ltd: Down 2.37% to ₹37,355.40
- Eicher Motors: Fell 2.60% to ₹4,556.70
- Maruti Suzuki: Dropped 1.76% to ₹12,165.40
- Motherson: Down 1.94% to ₹202.63
- Apollo Tyres: Declined 1.55% to ₹510.75
- Balkrishna Industries: Fell 1.33% to ₹2,987.00
- M&M: Dropped 1.79% to ₹3,013.00
The decline in the auto sector reflects broader market volatility. Despite Bajaj Auto reporting a 22% year-on-year increase in revenue to ₹13,127 crore for Q2 FY25, it missed ET Now poll estimates, which expected revenue of ₹13,305 crore and a PAT of ₹2,198 crore.
