Auto Stocks Slide as RBI Signals Rate Cuts Are Off the Table
Shares of major Indian automakers and commercial vehicle makers fell on Wednesday after the Reserve Bank of India raised the repo rate and signalled that near-term rate cuts are effectively off the table. The move sharpened investor concerns that higher borrowing costs, elevated inventories and rising input prices could weigh on demand and squeeze margins even as revenue growth is expected to remain resilient in the second quarter.
