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Maruti Suzuki, Tata Motors: Auto stocks face major hurdles amid Covid surge

Automobile and financial stocks dominate the list of companies where analysts have scaled back their earnings estimates for FY22

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Automobiles

Avdhut Bagkar Mumbai
Car market leader Maruti Suzuki India, on Saturday, said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, “keeping in view the current pandemic situation”. A host of other automobile manufacturers, including Mahindra & Mahindra, Toyota Kirloskar, Honda Motorcycle and Scooter India, Ford India, and BMW India, have taken a call either to advance the shutdown or extend it due to the pandemic.

In a report, Centrum Broking said that April was anticipated to be a good month for two-wheelers on the back of mini-festivals at the regional level and marriage season demand