INDIA STOCKS-Indian shares open lower, dragged by auto stocks

Jan 27 (Reuters) - India's equity benchmarks opened lower on Tuesday, led by auto stocks after reports that a trade deal with the European Union could slash tariffs on car imports, while investors digested quarterly results from key index heavyweights.

The Nifty 50 .NSEI fell 0.37% to 24,957.3, while the BSE Sensex .BSESN shed 0.45% to 81,143.54 as of 9:24 a.m. IST.

Indian markets were closed on Monday.

Fourteen of the 16 major sectors logged losses. The auto index fell 2%, topping sectoral losses. Mahindra and Mahindra MAHM.NS shed 4.1%.

The decline comes after a Reuters report over the weekend that New Delhi planned to slash tariffs on cars imported from the European Union to 40% from as high as 110%.

The broader small-caps .NIFSMCP100 and mid-caps .NIFSMCP100 also lost 0.4% each.

Among stocks, the country's top cement maker Ultratech Cement ULTC.NS gained 3.1% after posting robust quarterly results. Private lender Axis Bank AXBK.NS gained 3.8% after reporting a surprise rise in quarterly profit, supported by healthy loan growth.