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Market Update

Maruti Suzuki and M&M Vehicle Sales Rebound

Author: Mukesh Buch
Last Update: 11:03 AM ET July 01 2014

6:00 PM Mumbai – L&T won contract of Rs 2,442 crore from Bharat Sanchar Nigam. Maruti Suzuki June sales surged 33.5%. M&M tractor June sales climbed 8%. Punj Lloyd won a contract worth $200 million in Kuwait. Sterlite secured defense contracts worth Rs 2,500 crore from BSNL.

The Sensex Index gained 102.57 or 0.4% to close at 25,516.35 The CNX Nifty rose 23.35 to 7,634.70.

Gainers & Losers

Larsen & Toubro Limited gained 1.4% to Rs 1,725.35 after the company’s construction division won a contract of Rs 2,442 crore from Bharat Sanchar Nigam.

Maruti Suzuki India Ltd surged 6% to Rs 2,584.85 after vehicle sales in June climbed 33.5% to 112,773 units from 84.455 units in a year ago month.

Domestic sales soared 31.1% to 100,964 units and passenger car sales in the month jumped 32.3% to 86,223 units and exports surged 58.4% to 11,809 units.

Mahindra & Mahindra Limited jumped 4% to Rs 1,194.15 after the company said total tractor sales in June climbed 8% to 29,884 units and domestic sales increased 8% to 28,893 units. Total tractor exports fell 3% to 991 units.

Total sales in automobiles segment rose 1% to 38,471 units and domestic automobiles sales grew 1% to 36,457 units.

The company’s domestic sales of scooter surged 83% to 14,389 units from 7,849 units.

Punj Lloyd Limited climbed 3.5% to Rs 52.90 after the company was awarded expansion and revamping contract for Ahmadi Depot from Kuwait National Petroleum Company valued Rs 1,418 crore.

Sterlite Technologies Limited soared 4.9% to Rs 68.60 after the company secured contracts worth Rs 2,500 crore from BSNL for defense services.

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