Tata Motors PV, Maruti Suzuki, Ashok Leyland, auto stocks drop up to 3% as RBI signals rate cuts are ‘off the table’

Auto stocks including Tata Motors PV, Maruti Suzuki, M&M and Ashok Leyland dropped on Wednesday after the RBI raised the repo rate and shifted to calibrated tightening. Analysts expect Q2 revenue growth to remain strong, but rising commodity costs, limited pricing power and elevated inventories could pressure margins and demand.