Auto Stocks Drop As Government Proposes To Levy Green Tax In Budget

Shares of auto manufacturers fell on account of profit taking after the road transport ministry on Monday approved a proposal to levy additional taxes on old vehicles that are unfit and pollute the environment in a move to improve the air quality in its major cities. The gauge of auto stocks on the National Stock Exchange Nifty Auto index dropped nearly 2 per cent. Ashok Leyland was top loser in the auto space, the stock fell over 3 ...