Nifty Auto declines 1% led by Ashok Leyland, M&M

Amara Raja Batteries and Motherson Sumi slipped 1% ahead of their Q3FY19 numbers.

Feb 11, 2019 11:02 IST India Infoline News Service

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The Nifty Auto index is trading lower 1.2% led by Ashok Leyland, M&M, Bharat Forge, and Amara Raja Batteries.

Amara Raja Batteries and Motherson Sumi slipped 1% ahead of their Q3FY19 numbers. Hero MotoCorp stock fell 1.5% after the stock adjusted for interim dividend.

Shares of M&M fell 3% on the NSE. The revenues for M&M + MVML were 12% yoy higher (1% qoq higher) at Rs12,893cr, lower than the expectation of Rs13,089cr.

Shares of Tata Motors dropped 1% after the company missed expectations in Q3FY19 at the consolidated level. The company plunged into a net consolidated loss due to asset impairment in JLR of Rs27,838cr. Reported consolidated net loss was Rs26,992cr against net profit of Rs1,193cr in Q3FY18 and net loss of Rs1,049cr in Q2FY19.

Shares of Eicher gained nearly 1% ahead of the companny's Q3 numbers. Click here for expectation

Meanwhile, equity benchmark indices were trading at day’s low with the Sensex declining 190 points at 36,356 levels. The Nifty also dropped 73 points to trade at 10,874 levels.

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