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Market Update

Auto Sales in India Struggle, Bajaj and Hero Sales Below Estimates

Author: Mukesh Buch
Last Update: 9:01 AM ET November 03 2014

6:00 PM Mumbai Ashok Leyland sales in October surged 23% but Bajaj Auto sales were nearly flat. Hero sales declined 8% but TVS Motor sales surged. Maruti Suzuki sales nearly flat 1%. M&M and Tata Motor sales plunged 17%.

The Sensex Index slid 5.45 or 0.02% to close at 27,860.38. The CNX Nifty rose 1.95 or 0.02% to 8,324.15.

Gainers & Losers

Ashok Leyland Limited, commercial vehicle maker rose 0.3% to Rs 46.50 after total sales in October surged 23% to 8,375 units from same period a last year.

Bajaj Auto Limited, maker of automobile dropped 1.3% to Rs 2,574.05 after October total sales were nearly flat at 3,86,017 units compared to 3,85,323 units in a year ago period.

Dabur India Limited advanced 1.8% to Rs 230 after the maker of healthcare products said net in the second-quarter climbed 15% to Rs 287.48 crore and net sales jumped 10% to Rs 1,924.09 crore.

Hero MotoCorp Limited added 1.7% to Rs 3,010.75 and the largest motorcycle maker reported October total sales declined 8% to 5,75,056 from a year ago period.

KEC International Limited, developer of engineering infrastructure plunged 7.3% to Rs 101.75 after net in the second-quarter slipped 8.1% to Rs 20.30 crore and net revenues surged 22.1% to Rs 2,173.77 crore.

Maruti Suzuki India Limited, the largest automaker slipped 1.6% to Rs 3,285.60 after October total vehicles sales slid 1.1% to 103,973 units from 105,087 units a year ago period.

Mahindra & Mahindra Limited dropped 2.7% to Rs 1,268.55 after October total tractor sales slipped 17% from a year ago period to 31,907 units.

In October, domestic tractor sales dropped 18% to 30,800 units but exports sales surged 51% to 1,107 units compared to same quarter a year ago.

TVS Motor Company Limited, increased 0.9% to Rs 261.90 after the automobile maker reported in October total sales surged 22% to 2,41,044 units from a last year same period.

In October, domestic sales jumped 18% to 2,04,294 units and scooters sales surged 68% to 70,571 units and motorcycles sales advanced 10% to 90,779 units from a same period a year ago.

Tata Motors Limited, automobile company slid 8% to Rs 531.15 after October total vehicle sales plunged 17% to 42,819 units from 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