Bajaj Auto, M&M, Hero Moto skid up to 6%; here's why auto stocks are down
NSE moved lower.
· Business Standard Mkts
Nifty Auto index decline 3 per cent to 25,507, hitting an over four month low on the National Stock Exchange in Thursday's intraday deal.
The analysis
NSE reported movement of 6% and 3%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -2.0% on the day at ₹9,686.00, and has returned -4.4% over three months. It sits 22% below its 52-week high. The auto sector has moved -4.1% over the same period, so Bajaj Auto is running 0.3 points behind its peers.
For Bajaj Auto, the question is how much of this is already reflected in the price and how much re-rates the auto peer set alongside it.
Why it matters
- With NSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The company directly in focus is BAJAJ-AUTO.
- Sector exposure: Auto.
- The immediate tone of coverage reads negative.
In this story
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