Auto stocks are in focus right now with all the newsflow emerging from the standoff between Maruti and its workers at their Manesar plant in Haryana. Meanwhile, auto companies are breathing a sigh of relief after the government decided to extend a tax break for exporters beyond the June 30 deadline.
The managing director of Bajaj Auto Rajiv Bajaj says the export incentive scheme which has been extended till September is a welcome move. Post that, exporters will have to move to the duty drawback scheme. In an interview on CNBC-TV18, he expects 4-5% of the DEPB benefits to be partly covered by the drawback scheme.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
