Hyundai Motors India, one of the major names in the Indian passenger vehicle segment, debuted at Dalal Street as the company executives rang the bell at the National Stock Exchange (NSE) in Mumbai.
Hyundai's Starting Trouble
The start, however, was far from ideal, as the shares of the Indian arm of the Korean automobile company landed on Dalal Street with a decline of over 5 per cent.
At the time of writing, Hyundai shares were trading with a deficit of 5.30 per cent or Rs 103.80, with the value of shares standing at Rs 1,856.20.
The shares of other major automobile companies in the passenger vehicles (PV) segment saw a major decline in the intraday trade on Tuesday, October 22. The share prices of Tata Motors, Maruti Suzuki and Mahindra & Mahindra were all trading in red, in the early hours of the trading session.
Tata Motors Ltd
The shares of this Tata group have not had the best past few quarters at the equity markets. The automobile maker even fell behind M&M in last month's automobile sales.
The shares of Tata Motors saw the biggest decline of 2.08 per cent or Rs 18.80. This took the overall value of the company shares to Rs 884.50 per piece.
Maruti Suzuki India Ltd
Next in is the biggest carmaker on the subcontinent, Maruti Suzuki shares also observed a drop in its prospects.
The shares of the company dropped by 2.02 per cent or Rs 246.55, thereby declining to Rs 11,929.35 after opening at 12,215.95 per piece.
Mahindra And Mahindra Ltd
When we look at another major auto company that has reinforced itself in the passenger vehicle segment with its new line of compact SUVs, Mahindra & Mahindra also saw its shares decline on Tuesday.
The company shares dropped to Rs 2,947.00. This came to pass after decline of Rs 51.20 or 1.71 per cent.
