Auto stocks tumbled on Friday, with Mahindra & Mahindra falling 6% and TVS Motor dropping 3.8% amid reports of the government considering reducing import duties on electric vehicles from 110% to 15%. The move, aimed at facilitating Tesla’s entry, raised concerns over intensified competition. The Nifty Auto Index declined 2.58%, dragging stocks like Tata Motors, Ashok Leyland, and Bajaj Auto lower, impacting investor sentiment.
Nifty Auto: Tumble Amid EV Import Duty Reduction Talk
