Nifty Auto stocks remain under pressure; Tata Motors sinks over 1% post Q1 earnings

The Nifty Auto stocks declined again amid weak markets on Tuesday. The Index was 0.6% down as Tube Investments of India dragged the most and heavyweight Tata Motors sank post Q1 earnings. Mahindra & Mahindra, MRF and Maruti also underperformed.

Bosch was the only company out of 15 listed on Nifty Auto to trade in the green.

At around 2.10 pm, Nifty IT was trading at 10,080.35 down 57.60 points or 0.57%, touching a high of 10,217.10 and low of 10,047.65 during intraday trade on Tuesday. BSE Sensex was trading at 52,557.95 down 294.32 points or 0.56% and Nifty50 at 15,734.70 down 89.75 points or 0.57%.

Tube Investments of India was the major loser again, dropping 1.2% at Rs1,088.70 per piece.

Tata Motors also shed over 1% at Rs290.00 per piece. Tata Motors reported a loss at Rs4,450.92cr in Q1FY22 against loss of Rs8,437.99cr in Q1FY21, revenue jumped to Rs66,406.45cr from Rs31,983.06cr yoy.

Exide India was trading 1% lower at Rs176.40 per piece while MRF was also nearly 1% on the downside at Rs80,150.05 per piece. M&M was 0.74% lower at Rs748.75 per piece. Amara Raja batteries shed nearly 0.7%. Balkrishna Industries, Hero MotoCorp, Maruti and TVS Motor Company were around 0.5% down. Maruti has been feeling the selling pressure last week. Ashok Leyland, Eicher Motors, Bharat Forge and Bajaj Auto also traded lower. 

Bosch was the only company trading higher in the sector at Rs46.60 per piece, up 0.3%.