Sensex, Nifty trade steady; auto stocks fall on SC verdict

Epic Update Hero MotoCorp
Epic Update Hero MotoCorp

Shares of major automobile majors took a hit as investors turned cautious of the Supreme Court’s verdict on BS-III vehicles.

Hero MotoCorp, TVS Motor, Ashok Leyland, among others fell between 0.29 percent and 5 percent intraday.

The Supreme Court on Wednesday banned the sale of BS-III vehicles from April 1, 2017 onwards. 
The decision is significant as the industry is said to have an inventory of 8.2 lakh such vehicles, data available from SIAM has indicated.

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