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Market Update

Sensex in India Falls; Ashok Leyland Unit Sales Surge, Kotak Net Climbs

Author: Mukesh Buch
Last Update: 9:40 AM ET May 05 2015

6:00 PM Mumbai Stocks in Mumbai traded down and investors focused on corporate earnings. Ashok Leyland sales in April soared 43%. Kotak Mahindra quarterly net climbed 29%. Mangalam Cement net plunged 65%. DLF Limited plans to raise ₹3,600 crore of $450 million through a debt and stock offering.

Market indexes on Dalal Street struggled and investors focused on corporate earnings news as the rupee trended lower.

Rupee eased 2 paisa 63.44.

The Sensex Index fell 50.45 to close at 27,440.14. The CNX Nifty slid 7.15 to 8,324.80.

Gainers & Losers

Ashok Leyland Limited fell 0.9% to ₹70.65 after the commercial vehicle maker said April total sales in the month climbed 43% to 8,435 units compared to 5,897 units in the same period a year ago.

The company added medium and heavy commercial vehicle sales soared 45% to 6,549 units from 4,523 units and light commercial vehicle sales climbed 37% to 1,886 units from 1,374 units a year ago.

DLF Limited rose 0.7% to ₹139.30 after the infrastructure developer plans to raise ₹3,600 crore this quarter in a public offering.

Jubilant Industries Limited soared 19.9% to ₹118.30 after the specialty polymers supplier said net in the fourth-quarter swung to a loss of ₹54.39 crore compared to profit of ₹75.52 crore in the same period last year.

Net sales in the quarter slipped 9.50% to ₹186.05 crore.

Kotak Mahindra Bank Limited climbed 6.5% to ₹1,423.65 after the largest private bank said net in the fourth-quarter soared 29.46% to ₹527.14 crore.

Total revenues jumped 27.26% to ₹3,249.08 crore.

Mangalam Cement Ltd declined 5.1% to ₹254.80 after the cement maker said net in the quarter plunged 64.8% to ₹2.72 crore.

Total sales in the quarter advanced 8.5% to ₹239.79 crore.

Omkar Speciality Chemicals Limited jumped 5.1% to ₹149.40after the chemical maker received orders worth ₹100 crore.

V-Guard Industries Limited dropped 2.6% to ₹982.25 after the consumer products maker said net in the fourth-quarter slid 2% to ₹20.07 crore.

Net sales in the quarter increased 4.9% to ₹439.53 crore.

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