Bengaluru, Sept. 19 -- An auto stock tumbled sharply after the announcement of its delisting and suspension from trading on the National Stock Exchange. The counter hit a five percent lower circuit, reflecting concerns among investors about the company's limited business prospects and exit from the exchange.

Hindustan Motors Limited, with a market capitalization of Rs. 475.95 crore, opened at Rs. 23.90 against its previous close of Rs. 24.01 and slipped to an intraday low of Rs. 22.81. The stock locked in its lower circuit of five percent after the announcement.

What's the News? Hindustan Motors Limited has applied for voluntary delisting under Regulation 5 and 6 of the SEBI (Delisting of Equity Shares) Regulations, 2021. Following this...