Tata Motors Passenger Vehicles Ltd.

BSE: 500570 | NSE: TMPV
Large Cap | Automobiles - Passenger Cars
338.80
0.95 (0.28%)
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Tata Motors, M&M run out fuel after FM proposed to hike excise duty on SUVs to 30%

Date: 28-02-2013

Shares of Tata Motors, Mahindra & Mahindra, ran out of fuel after Finance Minister P Chidambaram in his budget 2013 speech announced an increase in excise duty on Sports Utility vehicles (SUVs) from a current 27% to 30%. This hike however, will not be applicable to those SUVs that have been registered as taxis.

Tata Motors is currently trading at Rs 283.30, down by 2.70 points or 0.94% from its previous closing of Rs 286.00 on the BSE. The scrip opened at Rs 292.50 and has touched a high and low of Rs 293.40 and Rs 280.90 respectively. So far 781334 shares were traded on the counter.

Mahindra & Mahindra is currently trading at Rs 875.00, down by 16.30 points or 1.83%  from its previous closing of Rs 891.30 on the BSE. The scrip opened at Rs 898.00 and has touched a high and low of Rs 901.65 and Rs. 873.00 respectively. So far 101753 shares were traded on the counter.