Sensex Red down
Sensex Red down

New Delhi: Shares of motorbike makers fell by up to 3% on Monday after Niti Aayog asked industry body SIAM along with conventional two and three-wheeler makers to suggest within two weeks, concrete steps towards transition to electric mobility on Friday. The scrip of Eicher Motors fell 3.05%, Bajaj Auto declined 1.97%, Hero MotoCorp 1.28% and TVS Motor 0.62% on the BSE.

"With declining auto sales, lack of supply chain for electric vehicles, no charging infrastructure, transition to BSVI efficient standards, auto companies are facing a tough time juggling between weak revenues, dented margins and re-investment required to build 2 and 3 wheelers to match with the latest norms.

"The pressure to switch when they are already facing a tough time will impact their margins further," said Umesh Mehta, Head of Research, Samco Securities.

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