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Thursday, August 4, 2011

Govt.’s musing on penalizing diesel cars, comes heavily on auto stocks

Today government indicated on rolling back of subsidy benefits being availed by diesel passenger cars, which consume around 15% of Indian diesel consumption.
But this shall be herculean task to implement this mechanism especially in India, where rules are easily defied by unscrupulous people, and that’s why it is highly probable that govt. might end up with hiking excise duty on diesel vehicles.
 A Diesel car sale was boosted after decontrolling of the petrol and is about 30% of total car sales.
Mahindra and Mahindra, was the biggest loser which was down by 4.2%. Tata Motors and Maruti Industries too were down by 1.5% and 1% respectively.

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