Nifty Auto Index Plunges Over 12%; Bajaj Auto Top Loser On The Index

The Nifty auto index amid market rout on March 23, 2020 declined over 12% to hit the day's low of 4699.6. This is after ACMA and SIAM has asked auto companies to shut down their manufacturing facilities to stem the spread of coronavirus infection.

Nifty Auto Index Plunges Over 12%; Bajaj Auto Top Loser On The Index

Among the top losers on the index are Bajaj Auto (13%), Maruti Suzuki (down 12.42%), HeroMotoCorp (down 12.43%), M&M (down 10.45%) and Ashok Leyland (down over 9%).

On Sunday, Maruti Suzuki announced the shutdown of its manufacturing facilities in Manesar and Gurugram till further notice. The company's R&D centre at Rohtak has also been closed down.

Hero MotoCorp has suspended operations at all its manufacturing and assembly facilities across the globe including plants in India, Bangladesh and Colombia with immediate effect until March 31, 2020.

Mahindra & Mahindra Ltd (M&M) in its release to the stock exchanges said the company's tractor manufacturing unit in Nagpur will be shut with immediate effect. Further, the company's operations at two of its facilities including Chakan in Pune and Kandivali in Mumbai will shut down by Monday end.

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