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Market Update

India: Hero, Maruti Suzuki Sales Rise; Tech Mahindra Net Up


Author: Mukesh Buch
ticker.com
Last Update: 10:16 AM ET August 01 2014

6:00 PM Mumbai Castrol net plunged 19% but sales rose. DLF profit and revenue plunged. Hero Motocorp July sales climbed 9% and Maruti Suzuki sales surged 22%. JSW Steel net swung to profit on 29% increase in sales. Pantaloons loss widened. Titan profit dropped.

The Sensex Index declined 414.13 or 1.6% to close at 25,480.84 The CNX Nifty slumped 118.70 to 7,602.60. For the week, Sensex dropped 3%.

Gainers & Losers

Castrol India Limited slipped 1.1% to Rs 333.05 after net profit in the first-quarter plunged 19.01% to Rs 124.40 crore and total sales jumped 4.8% to Rs 923.90 crore.

DLF Ltd gained 1.1% to Rs 200.60 after net profit in the first-quarter declined 29.5% to Rs 127.77 crore and total revenue plunged 24.5% to Rs 1,851.60 crore.

Hero Motocorp Ltd rose 0.1% to Rs 2,598 after the company said total sales in July climbed 8.7% to 5,29,862 units from 4,87,545 units in the same month last year.

JSW Steel Limited fell 0.5% to Rs 1,173.95 after the company reported net in the first-quarter swung to profit Rs 656.49 crore compared to a loss of Rs 381.82 crore and revenue soared 29.04% to Rs 13,254.07 crore.

Maruti Suzuki India Ltd climbed 2.5% to Rs 2,587 after the car-maker said total vehicles sales in July soared 21.7% to 101,380 units from 83,299 units a year ago month.

The company said total domestic sales in July soared 19.9% to 90,093 units and exports surged 38.4% to 11,287 units. Total passenger car sales jumped 15.5% to 72,782 units.

Pantaloons Fashion & Retail Ltd tumbled 11% to Rs 112.05 after the company reported net loss in the first-quarter widened to Rs 78.09 crore from Rs 57.82 crore and net sales soared 13.5% to Rs 381.30 crore.

Titan Company Ltd declined 4.4% to Rs 326.15 after net profit in the first-quarter dropped 2.9% to Rs 177.27 crore and revenues decline 7.3% to Rs 2,916.84 crore.

Tech Mahindra Ltd slumped 1.1% to Rs 2,127.15 after net profit in the first-quarter jumped 2.7% to Rs 631 crore and revenue rose 1.3% to Rs 5,122 crore.

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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