News: The Maharashtra government has reduced the VAT on petrol and diesel sold in the state by Rs 5/litre & Rs 3/litre, respectively.
Views: This is marginally positive for the domestic automobile space and could potentially support sales in the area of personal mobility (primarily two wheelers and passenger vehicles). Maharashtra is an important state for automobile sales with share of sales pegged at ~9% in 2-W space, ~10% in PV category and ~13% in CV domain. It is positive for auto OEMs like Bajaj Auto and M&M in our coverage universe .
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