Shares of Indian car makers fell
sharply on Tuesday after Reuters reported that New Delhi is set
to cut tariffs on European car imports to 40% as part of trade
deal, in what would be the most aggressive opening yet of one of
the country’s most protected sectors.
Mahindra and Mahindra fell 4% to lead losses on
the Nifty auto index, which slid as much as 2%
Companies to follow