Atul Auto will launch the e-vehicle with battery swapping tech after the successful completion of field trials
Pramod Gubbi, VP-Sales, Ambit Capital said since the liquidity inflows are likely to remain steady going forward for India, the market see some gains on back of that. However, market could see some consolidation in the near-term, he added.
Equity benchmarks were firm in early trade, as traders are betting that the positive momentum will sustain through this month.
Auto shares fell 1-3% Tuesday on fears that higher than expected 50 basis points interest rate hike by the Reserve Bank of India will make loans more expensive and thus hurt already slow sales further.
Auto shares are likely to remain subdued in the near-term as negative pressures from rising interest rates and fuel costs slows vehicle sales growth.