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Market Update

Hero, TVS June Sales Rise; Coal India Misses Target

Author: Mukesh Buch
Last Update: 9:26 AM ET July 03 2014

6:00 PM Mumbai Alstom T&D won contract worth Rs 27.7 crore from Himachal Pradesh. Apollo Tyres invest $340 million at Chennai and Kerala plants. Coal India production fell in June. Hero Motocorp sales in June climbed 8%. JSW Energy acquired power plant for Rs 5,700 crore.

Market trading was disrupted on the Bombay Stock Exchange after a three-hour network outage. Indexes opened higher and gained in brisk trading.

The Sensex Index fell 17.46 to close at 25,823.75 The CNX Nifty slid 10.35 to 7,714.80.

Gainers & Losers

Alstom T&D India Ltd rose 0.3% to Rs 337.50 after the company won contract worth Rs 27.70 crore from Himachal Pradesh Power Transmission Corporation.

Apollo Tyres Ltd climbed 3.3% to Rs 211.10 after the company intends to invest Rs 2,025 crore or $340 million to upgrade its manufacturing facilities at Chennai and Kerala.

Coal India Limited gained 0.4% to Rs 395.20 and production in June increased to 34.54 million tons, missing the target of 36.54 million tones.

Hero Motocorp Ltd fell 0.8% to Rs 2,589.40 after the company said sales in June climbed 8% to 541,594 units from a year ago.

For the fiscal first quarter to March, motorcycle sales increased to 1,715,129 units from 1,559,282 units a year ago period.

JSW Energy Limited slumped 1.2% to Rs 84.05 after the company agreed acquire Lanco Infratech''s 1,200 mega watts Udupi Power plant for about Rs 5,700 crore.

Jaiprakash Associates Limited declined 4.6% to Rs 72.05 after the company sold its shares at a discount to the market price of Rs 70.27 or $1.18 to Rs 74 to raise $250 million.

TVS Motor Company Limited jumped 2.2% to Rs 171.25 after the company said total sale in June soared 23% to 202,177 units compared to 164,128 units a year ago.

Scooter sales in June surged 23% to 193,758 units and exports in the month climbed 24% to 32,290 units.

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