Rocky road ahead for auto exporters as demand woes may delay recovery

The NSE Auto index was the second-biggest gainer in April among Nifty sectoral indices. It was up 25 per cent over the last month with more than a fourth of those gains coming in a single trading session on Thursday. While all the automakers gained, top gainers among auto names were companies having high exposure to overseas markets.

Tata Motors surged over 19 per cent, while Bharat Forge and Motherson Sumi gained over 9 per cent each. Other gainers included Varroc Engineering, Bajaj Auto, and Mahindra CIE, which gained 5 per cent each. The optimism was led by expectations that the …

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