Automaker Maruti Suzuki India Ltd tumbles 5.89 per cent, its lowest since March 31, 2017. About 1.5 million Maruti shares changed hands compared with the 30-day average of around 748,800 shares. The auto index is down as much as 3.51 per cent, its lowest in over three years.
On Friday, Finance Minister Nirmala Sitharaman, in the budget, lowered goods and services tax (GST) on electric vehicles to 5 per cent from 12 per cent and raised basic customs duty on automobile parts.
Meanwhile, India's biggest motorcycle maker Hero MotoCorp slips 6.06 per cent to its lowest since Sept 2015. Bajaj Auto Ltd's shares were down over 3 per cent and on track for their third consecutive session of declines.
Other losers include Motherson Sumi Systems, Ashok Leyland and Apollo Tyres, which were down in the range of 3.5 per cent to 4 per cent.