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Market Update

India Movers: Ashok Leyland, Ashoka Buildcon, BEL, Bajaj Auto, Il&F, RIL

Author: Mukesh Buch
Last Update: 9:28 AM ET April 02 2014

6:00 PM Mumbai Ashok Leyland said sales in March declined 27%. BEL reported provisional turnover of Rs 6,180 crore. Bajaj Auto March sales edged up and year sales declined 9%. Il&Fs won order worth Rs 176 crore. RIL received $500 million in financing from EDC Canada.

The Sensex Index gained 105.05 or 0.5% to close at 22,551.49. The CNX Nifty increased 31.50 to close at 6,752.55.

Gainers & Losers

Ashok Leyland Limited climbed 3.7% to Rs 23.50 after the company said total sales in March declined 27% to 10,286 units from a year ago month.

Ashoka Buildcon Ltd surged 5.4% to Rs 79.50 after the company subsidiary received fourth tranche of investment of Rs 133 crore for construction projects.

Bharat Electronics Ltd dropped 2.1% to Rs 1,111.65 after the company estimated a record turnover of Rs 6,180 crore for the fiscal year ending in March.

Exports jumped 27.21% to $41.70 million and the company has a total order backlog of Rs 23,200 crore.

Bajaj Auto Ltd slid 0.7% to Rs 2,049.40 after the company said total sales in March rose 1% to 304,330 units.

Sales of commercial vehicles fell 1% to 33,739 units and exports soared 17% to record 118,183 units.

For the year ended in March, Bajaj unit sales dropped 9% to 3,870,090 units from 4,237,162 units a year ago.

Il&Fs Engineering & Construction Co Ltd surged 8.2% to Rs 45 after the company won order worth Rs 176 crore to construct a luxury residential project in Gurgaon.

Reliance Industries Limited gained 1.7% to Rs 956.95 after the company said that Export Development Canada has announced $500 million in financing for the company.

Reliance has been sourcing equipment and technology for its petroleum businesses from Canada for more than six years and recently the company has also been working with Canadian wireless equipment and networking systems makers.

According to the press release from the EDC, this financing is the largest offered by the organization in Asia.

Sharon Bio-Medicine Limited rose 0.1% to Rs 41.95 after the company completed its expansion in three manufacturing facilities.

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