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Market Update

Ashok Leyland, TVS September Sales Jump; Tata Motor Sales Drop

Author: Mukesh Buch
Last Update: 10:06 AM ET October 07 2014

6:00 PM Mumbai Alok Ind received bank guarantee worth $207 million. Ashok Leyland September unit sales surged 27%. Cera Sanitaryware net soared 48%. L&T secured expressway project in Uttar Pradesh. Tata Motors commercial and passenger vehicles sales declined 8%. TVS sales climbed 27%.

The Sensex Index declined 296.02 or 1.1% to close at 26,271.97 The CNX Nifty dropped 93.15 to 7,852.40.

Gainers & Losers

Alok Industries Ltd climbed 3.5% to Rs 12.84 after state Bank of India approved bank credit line for exports worth $207.4 million.

Ashok Leyland Ltd gained 1.4% to Rs 42.60 after the company said sales in September surged 27% to 9,193 units.

Ballarpur Industries Ltd jumped 7.1% to Rs 17.45 after the International Finance Corporation agreed to invest about Rs 616 crore or $100 million in Bilt Paper BV, a subsidiary of the company.

Cera Sanitaryware Ltd surged 7.8% to Rs 1,706.05 after net profit in the second-quarter soared 48.3% to Rs 15.75 crore and total revenue surged 25.7% to Rs 199.59 crore.

GMR Infrastructure Ltd soared 11.2% to Rs 19.80 after the company synchronized first supercritical thermal power plant of 1,370 megawatts in Chhattisgarh.

Larsen & Toubro Limited dropped 2.1% to Rs 1,414.65 after the company said its construction division secured expressway project worth Rs 1,630 crore in Uttar Pradesh.

Tata Motors Limited rose 0.4% to Rs 504.90 after the automobile company said September sale of commercial and passenger vehicles declined 8% to 46,118 units.

Domestic sales plunged 11% to 40,874 units and sales in commercial vehicles segment plummeted 13% to 28,943 and sales from passenger vehicles segment dropped 7% to 11,931.

The company said export in the month climbed 18% to 5,244 units.

TVS Motor Company Limited slumped 2% to Rs 224.30 after the company reported total vehicle sales in September climbed 27% to 250,835 units from 197,409 units in September 2013.

The company said motorcycle sales jumped 18% to 98,052 units and scooter sales surged 63% to 70,508 units.

Exports during the month climbed 15% to 31,616 units from 27,577 units a year ago month.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc