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Market Update

M&M, Tata Motors July Sales Drop; Grasim Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 11:00 AM ET August 04 2014

6:00 PM Mumbai 3M India net soared 102%. Grasim net declined 20% but revenue surged 16%. M&M July sales fell 4%. Marico net surged 19%. Oriental Bank of Commerce net rose. Tata Motors total sales in July plunged 23%. TVS Motor sales in July soared 32%.

The Sensex Index climbed 242.32 or 0.9% to close at 25,723.16 The CNX Nifty jumped 81.05 to 7,683.65.

Gainers & Losers

3M India Ltd surged 11.7% to Rs 5,398.85 after net profit in the first-quarter soared 102.1% to Rs 25.45 crore and net sales climbed 10.1% to Rs 455.09 crore.

Grasim Industries Ltd increased 0.3% to Rs 3,228 after net profit in the first-quarter declined 20.1% to Rs 487.13 crore and revenues surged 15.9% to Rs 8,314.07 crore.

Mahindra & Mahindra Limited gained 1.1% to Rs 1,184.60 after the company said total auto sales in July fell 4% to 35,567 units. Passenger vehicle segment sales slipped 5% to 14,708 units and domestic sales slid 4% to 33,047 units. Exports dropped 3% to 2,520 units.

Separately, the company said total tractor sales in July dropped 6% to 17,407 units. The company said domestic sales in July declined 8% to 16,379 units and exports surged 47% to 1,028 units.

Marico Limited slipped 1.7% to Rs 256.60 after net profit in the first-quarter surged 19% to Rs 185 crore and revenue soared 25% to Rs 1,623 crore.

Oriental Bank of Commerce rose 0.4% to Rs 282.35 after net profit in the first-quarter rose 3.2% to Rs 364.54 crore and total revenue jumped 6.1% to Rs 5,576.02 crore.

As of June, ratio of gross non-performing assets to gross advances climbed 4.33% from 3.36% a year ago.

Tata Motors Limited increased 1.7% to Rs 446.80 after the automobile company said total sales in July plunged 23% to 39,623 units and commercial vehicles plummeted 28% to 26,089 units. Passenger vehicle sales dropped 15% to 9,167 units.

The company added domestic sales of commercial and passenger vehicles declined 25% to 35,256 units

TVS Motor Company Limited climbed 4.6% to Rs 159.40 after the motorcycles maker reported total sales in July soared 32.1% to 2,03,092 units from 1,53,676 units.

The company said scooters sales surged 64% to 60,619 units and motorcycles sales jumped 33% to 76,767 units a year ago.

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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