Bajaj Auto hit by Sri Lanka tax hike reports

Bajaj Auto shares fell 2% after Sri Lanka newspapers reported govt had hiked duties on auto imports.

Written by Agencies | Published:April 2, 2012 12:17 pm

Shares of Bajaj Auto fell 2 per cent after Sri Lanka newspapers reported the government had hiked duties on auto imports as of March 31,sparking fears sales in a key export market for the Indian auto maker would be hit.

Sri Lanka accounts for around 10 percent of Bajaj’s sales and about 12-13 per cent of EBITDA,according to a Deutsche Bank research report out on Monday.

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results
    Express Adda