Hero Motors, SML Mahindra shares hit lower circuit as sell-off deepens

Hero Motors' share price fell to its 10% lower circuit at ₹122.70 on Wednesday, marking a significant retreat from its post-listing peak. The stock has declined 31% from its October 5 high of ₹179, reflecting broader weakness in the two-wheeler and automotive component segments. SML Mahindra and Wheels India also saw their shares locked at lower circuits on the same day, signalling coordinated selling pressure across the sector. The sharp downturn has raised concerns among investors about valuations and market conditions for auto ancillary companies. Analysts are closely monitoring whether the selling will persist or stabilize at current levels, with particular attention to sector fundamentals and demand indicators in the coming weeks.