Shares of Maruti Suzuki fell around 5 percent on Tuesday ahead of its March quarter earnings due on Wednesday. According to brokerages, India's largest carmaker is expected to witness a sharp fall in profit and volumes in Q4.

Auto stocks on Monday plunged up to 12.5 per cent after top carmakers, including Maruti Suzuki reported zero monthly domestic sales for the first time ever in April after the nationwide lockdown halted output and shut sales network.

Oil marketing companies (OMCs) comprising Indian Oil, HPCL, and BPCL have decided not to pass on the incremental cost of fuel upgrade to the consumers as COVID-19 crisis has brought the country to a standstill.

Most of the OEMs believe that meaningful production ramp up will only be possible when the dealerships are allowed to open, and vendor network is restored, said Nirmal Bang. And since all the automakers have held their production temporarily, they are instead prepping the facilities by carrying out maintenance works, laying out safeguarding measures, taking year end stock counts, prepping the supply chain etc, said the brokerage.