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Market Update

Auto and Maruti Sales Jump in India, Future and Bharti Retail Merge

Author: Mukesh Buch
Last Update: 9:24 AM ET May 04 2015

6:00 PM Mumbai Sensex in Mumbai soared 1.8% on strong auto sales in April. Bajaj Auto April auto sales rose 1%, Maruti Suzuki sales climbed 30% and TVS Motor sales jumped 14%. Tata Motors sales advanced 7%. Adani Ports quarterly net surged 25%.

Bulls were in charge in Mumbai trading and Sensex index soared 1.8% after auto sales in April were ahead of expectations and two large retailers agreed to merge.

Rupee closed unchanged at 63.47.

The Sensex Index climbed 479.28 or 1.8% to close at 27,490.59. The CNX Nifty advanced 150.45 or 1.8% to 8,331.95.

Gainers & Losers

Adani Ports and Special Economic Zone Limited soared 9.1% to ₹346.40 after the infrastructure developer said net in the fourth-quarter jumped 24.71% to ₹660.73 crore.

Net sales in the quarter soared 54.56% to ₹1,668.25 crore.

Bajaj Auto Limited climbed 7.4% to ₹2,093.70 after the 2-wheel vehicles maker said April sales in the month increased 1% to 336,274 units compared to 331,529 units.

The company added commercial vehicles sales soared 58% to 50,483 units and export sales advanced 7% to 161,598 units while motorcycle sales slipped 5% to 285,791 units.

Grasim Industries Limited rose 0.6% to ₹3,618.25 after the viscose staple fibre maker said net in the fourth-quarter declined 25.4% to ₹506.68 crore.

Total revenues increased 4.5% to ₹8,929.23 crore.

IDFC Limited rose 0.06% to ₹167.95 after the housing load provider said net in the fourth-quarter soared 48.17% to ₹382.21 crore.

Net sales in the quarter climbed 16.4% to ₹2,583.78 crore.

Maruti Suzuki India Limited increased 0.7% to ₹3,758.65 after the automaker reported April month sales soared 29.6% to 111,748 units compared to 86,196 units in the same period last year.

Domestic sales in the month climbed 27.3% to 100,709 units and exports sales surged 56% to 11,039 units.

Pantaloons Fashion & Retail Limited surged 12.1% to ₹129.65 after the retailer plans to combine retail operations with Bharti Retail Ltd.

The merger will combine operations of Future Retail and Bharti Retail to create a retail company with 570 stores across 243 cities and the merged company will be named Future Retail.

Shriram Transport Finance Company Limited declined 14.9% to ₹828.20 after the commercial vehicle loan provider said net in the fourth-quarter plunged 73.25% to ₹84.23 crore.

Total revenues in the quarter dropped 12.65% to ₹2,420.82 crore.

TVS Motor Company Limited jumped 5.8% to ₹249.35 after the vehicle maker reported total sales in the April climbed 14% to 195,937 units compared to 171,898 units in the same period last year.

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