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Motherson Sumi to Tata Motors: Europe slowdown to hit auto sector hard

Motherson Sumi, Apollo Tyres and Tata Motors to be among the worst affected because of high exposure

Ram Prasad Sahu  |  Mumbai 

The auto sector, which has been affected by the economic slowdown at home, is now facing a double whammy, given the demand concerns in key geographies, such as Europe. Companies with a significant presence in the European market have a seen a steeper fall in their stock prices, as compared to their peers who are largely confined to the domestic market.

Even as the Nifty Auto Index is down by a fifth over the last three weeks, stocks, such as Motherson Sumi, Tata Motors, Varroc Engineering, and Apollo Tyres, are down between 34 per cent and 48 per cent during this period. The sharper ...

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First Published: Sun, March 15 2020. 19:51 IST
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