Maruti Suzuki recouped all its losses after hitting a low of Rs 10,396. Tata Motors stood at Rs 621.25, off its day's low of Rs 615.60. This stock was down 2.12 per cent. 
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Maruti Suzuki recouped all its losses after hitting a low of Rs 10,396. Tata Motors stood at Rs 621.25, off its day's low of Rs 615.60. This stock was down 2.12 per cent. Shares of Mahindra & Mahindra Ltd (M&M), Maruti Suzuki Ltd, Ashok Leyland Ltd and other makers of diesel vehicles recovered some lost ground after Union Minister Nitin Gadkari said there is no proposal currently under active consideration by the government regarding an additional 10 per cent GST on the sale of diesel vehicles.
M&M, which hit a low of Rs 1,513 earlier today, recovered to Rs 1,546.65 on BSE, but was still down 2.24 per cent. Ashok Leyland was trading at Rs 179.30, down 2.98 per cent. This stock hit a low of 176.90 earlier today. Maruti Suzuki recouped all its losses after hitting a low of Rs 10,396. Tata Motors stood at Rs 621.25, off its day's low of Rs 615.60. This stock was down 2.12 per cent.
"In line with our commitments to achieve Carbon Net Zero by 2070 and to reduce air pollution levels caused by hazardous fuels like diesel, as well as the rapid growth in automobile sales, it is imperative to actively embrace cleaner and greener alternative fuels. These fuels should be import substitutes, cost-effective, indigenous, and pollution-free," he said in a tweet.
Earlier, Gadkari had suggested that he plans to propose imposing an additional 10 per cent tax on diesel engine vehicles. The transport minister called it the “pollution tax” and stated that it is the only way to reduce usage of diesel vehicles in the country.
He said this is the only way to bring about a transformation to cleaner energy, otherwise people do not seem to be in a “mood” to listen.
Gadkari asked the auto industry to encourage diversification to this end. “We are making good roads, which has led to a growth in the automobile industry, in turn leading to benefits of the automobile component players,” he said, adding that the industry will obviously be very happy but the Indian people will be very unhappy because of the pollution."
During his speech at the conference, Gadkari also requested the auto industry to reduce the production of diesel vehicles. He urged the industry to move from petrol and diesel to cleaner fuels, failing which he said that the government will have to add additional taxes.
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