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Auto stocks skid on rupee, sales outlook
Google and Facebook have the same number of users. However, Google's net profit and revenue is 10 times that Facebook. Yet, at over $ 100bn, the stock market is giving a market value to Facebook that is only half of Google.
18 May 2012, 01:25 PM IST 
Former Olympus president and chief executive Michael Woodford.
The BSE auto index fell 2.8 per cent as a record-low rupee was seen raising the cost of imports and royalty payments.
The auto sector has already been pummeled this month because of worries about sales; the sub-index was down 11.6 per cent vs the 7.2 per cent fall on the Sensex as of Thursday's close.
Tata Motors was down 4.7 per cent on continued worries about global sales after it reported flat growth in April. Shares dropped 7.4 per cent on Wednesday alone after the news.
Bajaj Auto fell 3.1 per cent and headed for a second consecutive daily loss, with some analysts citing disappointment over earnings out this week.
Copyright: Thomson Reuters 2012