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Market Update

Eicher Domestic Sales Surge 66%, NMDC Production Rises 12%

Author: Mukesh Buch
Last Update: 9:36 AM ET September 03 2014

6:00 PM Mumbai Eicher Motors August sales climbed 66%. Era Infra Engineering secured construction contract from Airport Authority of India. Elder Pharma net surged but revenue declined 33%. NMDC production and sales climbed.

The Sensex Index gained 120.55 or 0.4% to close at 27,139.94 The CNX Nifty increased 31.55 to 8,114.60.

Gainers & Losers

BEML Ltd gained 1.9% to Rs 637.70 after the company launched a new version of motor grader for the construction equipment.

Eicher Motors Ltd surged 8.5% to Rs 11,088.95 after the automaker reported August sales soared 66% to 26,643 units from 16,062 units a year ago month.

Domestic sales during the month jumped 66.3% to 26,121 units from 15,708 units in the year ago period.

Exports in the month soared 47.4% to 522 units compared to 354 units in the same month a year ago.

In the five-month period to August total sales surged 81.4% from a year ago to 1,92,356 units.

Era Infra Engineering Limited soared 4.8% to Rs 16.55 after the company secured construction contract in Port Blair worth Rs 314.61 crore from Airport Authority of India.

Elder Pharmaceuticals Ltd slipped 0.6% to Rs 190.75 after net profit in the fourth-quarter surged to Rs 96.55 crore from Rs 0.84 crore and sales declined 33.3% to Rs 122.83 crore.

JBF Industries Ltd decreased 1.4% to Rs 142.65 after the company reported net in the first-quarter swung to profit Rs 27.89 crore compared to a loss of Rs 41.06 crore and sales fell 0.3% to Rs 2,085.98 crore.

NMDC Limited jumped 2.5% to Rs 178.85 after the company said total iron ore production climbed 11.7% to 12.10 million tons in the five-months to August and sales during the same period surged 18.6% to 13.57 million tons.

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