Auto Sales in India Jumps in June, Sensex Eases
6:00 PM Mumbai – June month auto sales gained after makers report better-than-expected vehicle sales. Ashok Leyland sales soared 41%, Bajaj Auto sales climbed 8% and Tata Motors total commercial and passenger vehicles sales including exports gained 6%. TVS Motor total sales climbed 8% and export sales soared 26%.
Sensex in Mumbai trading edged lower and auto sales in June were ahead of expectations.
Investors also digested second central government initiative to build infrastructure in as many weeks.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi approved a ₹50,000 crore to be spent over five years for a new irrigation scheme the “Pradhan Mantri Krishi Sinchayee Yojana”
Rupee strengthened 9 paisa to 63.51 against one U.S. dollar.
The Sensex Index decreased 75.07 or 0.3% to close at 27,945.80. The CNX Nifty fell 8.15 to 8,444.90.
Gainers & Losers
Ashok Leyland Limited edged down 0.1% to ₹74 after the commercial vehicle maker reported June total sales soared 41% to 10,461 units from same period last year.
Bajaj Auto Limited increased 1.7% to ₹2,565.80 after the second largest two-wheeler maker said total sales in June climbed 8% to 331,317 units and motorcycle sales surged 10% from a year ago month to 287,582.
Hero MotoCorp Limited increased 0.6% to ₹2532.85 after the largest motorcycle maker said June total sales edged up 0.2% to 542,362 vehicles compared to 541,594 vehicles in the same period last year.
Larsen & Toubro (L&T) Limited fell 0.7% to ₹1796.95 after the construction services provider won orders worth ₹1,885 crore in June.
National Buildings Construction Corporation Ltd fell 0.8% to ₹980.10 after the infrastructure developer received project management consultancy business of ₹914.54 crore from various clients in June.
SML Isuzu, Ltd. rose 0.8% to ₹1,144.50 after the auto maker reported June total sales jumped 6.7% from a year ago month to 1,529 units.
Shrenuj & Company Limited soared 9.7% to ₹41.20 after the diamond and jewellery maker secured an order worth $30 million from a U.S. based retailer.
Tata Motors Limited decreased 1.8% to ₹436.60 after the truck and motor vehicle maker said June total commercial and passenger vehicles sales including exports gained 6% to 40,870 units compared to 38,544 vehicles in the same period a year ago.
TVS Motor Company Limited jumped 4.8% to ₹257.25 after the automobile maker said total sales in June climbed 8% to 222,099 units compared to 205,403 units in the month a year ago.
The company said total export sales in the month soared 26% to 43,025 from 34,103 units a year ago period.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc