Ashok Leyland, Tata Motors tank 4% as NGT bans purchase of diesel vehicles by government agencies

NEW DELHI: Shares of automakers plunged in afternoon trade on Friday after the National Green Tribunal (NGT) cracked down on purchase of diesel vehicles by government agencies in Delhi. However, the order will not impact private indiviaduals.

Shares of Ashok Leyeland, Tata Motors, Eicher Motor and Mahindra & Mahindra cracked up to 4 per cent after the development. The NGT in its order said that government departments will not be able to purchase diesel vehicle while the vehicles whose life has past the 10-year mark will be phased out.

The index of automobile shares on the BSE, BSE Auto, slipped about 2 per cent.