Mahindra suffered losses of Rs 8600 crore and Rs 6300 crore, respectively.
Diesel vehicle fabricating organizations got a major blow when it was reported to force 10% extra GST on diesel motor vehicles. Goodbye Engines Rs. 6300 crore and Mahindra and Mahindra Rs. A loss of Rs 8600 crore was incurred. Peruse this news…
What will be the fate of diesel motor driven vehicles in the country? When it was announced that they would be subject to 10% additional GST, there were concerns about this. Its effect was obviously seen on the organizations producing diesel vehicles. When the securities exchange shut, the cost of Goodbye Engines was Rs. Rs 6300 crore in misfortunes, while Mahindra and Mahindra experienced a deficiency of around Rs 6300 crore. There was a deficiency of Rs 8600 crore. Ashok Leyland and Eicher Motors also suffered significant losses.
At a SIAM (Society of Indian Car Makers) occasion on Tuesday, Association Street Transport and Roadways Pastor Nitin Gadkari discussed impressive 10% extra GST on diesel vehicles, in spite of the fact that he later explained that the public authority has no such proposition. . current. Be that as it may, the effect of his assertion was plainly seen on the organizations producing diesel vehicles, transports, trucks and farm haulers. Shares in these businesses suffered greatly, and the market lost thousands of crores of rupees.
More than Rs 6300 crore went to Goodbye Engines
The offer cost of Goodbye Engines, one of the country’s biggest transport and truck fabricating organizations, saw a decay of more than 2.19 percent today. This straightforwardly affects the market capitalization (MCAP) of the organization. The company had a market capitalization of Rs 2.55 crore as of Monday evening’s closing bell. 2,10,838.56 crore, while the stock’s coming up short on Tuesday was Rs. 2,04,493.81 crore. In this manner the financial backers of the organization will get Rs. Rs 6,344.75 crore in direct loss.
Mahindra and Mahindra Rs. loss of 8600 crores The current market capitalization of the truck and tractor manufacturer Mahindra & Mahindra is also approximately 15 lakh rupees. There is a shortfall of Rs. 8600 crore. On Monday the mcap of the organization was Rs. 1,96,738.69 crore. On Tuesday, when the share price reached a low, it dropped to Rs. 1,88,145.91 crore. As a result, the company’s investors now hold Rs. in the market. A loss of Rs 8,592.78 crore was incurred.
Ashok Leyland-Eicher Motors is also in bad shape. On Tuesday, shares of the two other bus, truck, and tractor manufacturers in the country, Ashok Leyland and Eicher Motors, also fell by more than 1.5%. A colossal downfall has likewise been found in their market cap. Ashok Leyland’s mcap on Monday was Rs. Which was Rs 54,259.63 crore on Tuesday. 51,940.09 crore was at the lower level for example Rs. Rs 2,319.54 crore in loss.
Similarly, Eicher Motors’ Monday mcap was Rs. which decreased on Tuesday to Rs 93,415.56 crore. The amount of Rs 91,105.18 crore remained low. The company’s shareholders will receive Rs in this manner. Rs 2,310.38 crore in direct loss.