Donald Trump, the US president, has come back with a tariff bat, swinging it wildly at his opponents and allies alike.
Trump's Tariff On Automobiles
This time, the 47th US president has announced a flat 25 per cent tariff on all automobiles imported to the US, or in other words, all vehicles that are made outside of the United States.
Thsi has resulted in a major fall in the shares across oceans here at Dalal Street. The Indian automobile companies, especially the leading carmakers, are having a bad at the bourse.
Tata Motors Ltd
Tata Motors, one of the top 3 carmakers in the country, was one of the worst hit after the tariff announcement. The company shares dipped by a major 4.83 per cent or Rs 34.20 per piece.
This took the overall value of the Tata Motors shares to Rs 674.05 per piece, at the time of writing.
Mahindra And Mahindra Ltd
Another major carmaker, Mahindra Group's Mahindra and Mahindra also saw their shares dip in the intraday trade.
The company shares shrunk to Rs 2,734.35, thanks to minor cuts amounting to 0.29 per cent or Rs 7.90 per share.
Maruti Suzuki India Ltd
Meanwhile, Maruti Suzuki, the largest carmaker in the country was having a different day, as the company shares traded in green, with healthy gains.
At the time of writing, the shares of Maruti Suzuki increased in size by 0.57 per cent or Rs 66.60, taking the overall value of the New Delhi-based company to Rs 11,800.90 per share.
Bajaj Auto
Although not a player in the carmaking segment, Bajaj Auto, a major constituent of the two-wheeler market, also saw its shares drop in the intraday trade.
Bajaj Auto shares dipped to Rs 7,964.60. This came to pass after minor losses of Rs 12.50 or 0.16 per cent.
All this time, Ola Electric, the Bhavish Aggarwal-led company, which has had to witness days of decline at NSE, saw its stock price rise today. The company was blooming in green with large gains of Rs 1.86 or 3.59 per cent. The Ola Electric stock price stands at Rs 53.60.
