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Market Update

India Movers: Alstom, Ashok Leyland, Bajaj Auto, Hero, L&T

Author: Mukesh Buch
Last Update: 8:36 AM ET December 03 2013

6:00 PM Mumbai – Alstom T&D secured an order worth Rs 79 crore. Ashok Leyland November sales declined 27%. Bajaj Auto sales dropped 17%. Hero MotoCorp total sales climbed 9%. L& T won new orders worth Rs 1,471 crore.

The Sensex Index fell 54.32 or 0.3% to close at 20,843.69. The CNX Nifty slid 16 to close at 6,201.85.

Gainers & Losers

Alstom T&D India Limited slid 1% to Rs 181.30 and the company secured an order worth Rs 79 crore from Power Grid Corporation of India.

Ashok Leyland Limited slid 0.6% to Rs 16.60 and the vehicle maker said total sales in November declined 27% to 5,375 units.

Bajaj Auto Limited fell 0.6% to Rs 1,954 after the two- and three-wheelers maker said total sales in November dropped 17% to 3,10,000 units.

The company added motorcycles sales plunged 15% to 2,78,000 units and commercial vehicles sales plummeted 30% to 31,888 units. Exports climbed 8% to 1,33,000 units.

Force Motors Ltd. surged 20% to Rs 391 after the company said November total sales were 1,510 units and domestic sales were 1,505 units.

The company added gross sales were Rs 90.47 crore and net sales to Rs 78.52 crore.

GAIL (India) Limited jumped 3% to Rs 343.35 after the company said it is in talks to acquire a stake in the Tanzanian assets from U.K. based oil explorer Ophir Energy Plc.

Hero MotoCorp Limited decreased 0.7% to Rs 2,048.15 after the scooters and motorcycles maker said November total sales climbed 9% to 12,00,000 units.

The company said it formed a venture with Italy based Fiat Group''s auto parts company to develop and sell electronic fuel injection systems for two-wheelers with total investment of about $8.5 million in the next three years.

Indiabulls Securities Ltd dropped 2.1% to Rs 20.75 after its board allotted 5.82 crore convertible warrants to the promoters.

Idea Cellular Limited slid 0.3% to Rs 175.05 and the telecom company said it will ask government to impose penalty of Rs 600 crore for violating license conditions by Spice Communications.

Larsen & Toubro Limited slipped 1.1% to Rs 1,054.80 after the company’s construction division won new orders worth Rs 1,471 crore in various business segments in November and December.

Steel Strips Wheels Limited fell 1.2% to Rs 144 and the company said in November total wheel rim sales climbed 12% to 8,69,000 units and exports jumped 5% to 1,04,000 units.

Wipro Limited rose 0.2% to Rs 482.50 after the company agreed to acquire US-based Opus CMC, a mortgage and risk management services provider for $75 million.

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