January 2, 2019 / 5:54 AM / 5 months ago

BUZZ-Indian auto stocks slip after disappointing Dec sales

** The Nifty Auto index falls as much as 1.7 pct in its worst intraday fall since Dec 21

** Brokerage firm Nomura in a note said initial sales numbers from automakers suggest weaker-than-expected wholesales for December

** Morgan Stanley said year-end inventory clearance and weak consumer sentiment led to a month of muted volumes

** Maruti Suzuki India Ltd posted a 1.3 pct drop in December sales on Tuesday and shares were trading 0.6 pct lower on Wednesday

** Morgan Stanley in a note said it expects a pickup in Maruti’s passenger vehicle sales from Jan, aided by new models and low system inventory

** Shares of Eicher Motors Ltd, best known for its Royal Enfield motorcycles, slip as much as 6.8 pct after it posted a 13 pct drop in December Motorcycles sales on Tuesday

** Shares of Tata Motors Ltd were down as much as 2.3 pct after it posted 8 pct drop in December domestic sales on Tuesday

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