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Mahindra’s July auto sales up 14%

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Mumbai, Aug 1 (IANS)

Mahindra’s July auto sales up 14%

Automobile manufacturer Mahindra and Mahindra (M&M) on Monday reported a rise of 14 per cent in its total sales for July.

The company sold 39,458 units during the month under review from an off-take of 34,652 units during the corresponding period of last year.

According to Pravin Shah, President and Chief Executive (Automotive), M&M, the growth is being driven by the various product launches of the last financial year, along with a strong performance in the heavy commercial vehicles (HCV) segment.

We are happy to have achieved a growth of 14 per cent during July 2016 in the midst of various regulatory challenges. The advent of a good monsoon so far, has brought in positive sentiment for the economy and that is somewhat reflected in our performance, said Shah.

With a strong performance in our company as well as our exports, we are hopeful of a positive outlook during the rest of the financial year.

For last month, the company’s domestic sales rose by 14 per cent to 35,305 units, from 31,087 units sold in July last year.

Similarly, sales of passenger vehicles (which comprise utility vehicles, cars and vans) edged higher by 20 per cent to 17,356 units, from 14,456 units during the like month of 2015.

In addition, commercial vehicles segment’s sales rose by eight percent to 13,168 units, from an off-take of 12,148 units during July 2015.

Moreover, three-wheelers’ off-take increased by seven per cent to 4,781 units from 4,483 units clocked in the like period of last year.

The company’s exports surged by 16 per cent to 4,153 units from 3,565 units shipped-out during July 2015.

Source(IANS)

 

Business

Equity indices end in green, Nifty closes over 11,000 mark

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SENSEX NIFTY MARKET

Mumbai, July 20: The key Indian equity indices closed in the positive territory on Friday riding on the Central government’s confidence of winning the trust vote in Parliament, analysts said.

Healthy buying activity was witnessed in IT, capital goods and healthcare stocks, they said.

However, gains were arrested by a depreciation in the Indian rupee. The rupee, earlier in the day touched an all-time low of 69.12 per dollar.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 11,010.20 points (3.30 p.m.) — higher by 53.10 points or 0.48 per cent — from its previous close of 10,957.10 points.

The barometer 30-scrip Sensex on the BSE, which had opened at 36,377.03 points, closed at 36,496.37 points (3.30 p.m.) — up by 145.14 points or 0.40 per cent — from its previous session’s close of 36,351.23 points.

Sensex has so far touched a high of 36,567.34 points and a low of 36,335.61 points during the intra-day trade. The BSE market breadth, however, was tilted towards the bears with 1,411 declines and 1,148 advances.

The major gainers on the Sensex were Sun Pharma, Infosys, Reliance, ICICI Bank and Axis Bank, while Bajaj Auto, Vedanta, Hero MotoCorp, ONGC and Kotak Mahindra Bank were among the major losers.

IANS

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Weak rupee, global cues depress equity indices; capital goods stocks fall

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SENSEX-

Mumbai, July 19: Depreciation in the Indian rupee coupled with decline in the global markets subdued the key Indian equity indices on Thursday.

According to market observers, heavy selling pressure was witnessed in capital goods, healthcare and IT stocks.

At 3.30 p.m., the wider Nifty50 on the National Stock Exchange provisionally closed at 10,957.10 points, lower by 23.35 points and 0.21 per cent from the previous close of 10,980.45 points.

The barometer 30-scrip BSE Sensex, which had opened at 36,509.08 points, closed at 36,351.23 points — lower by 22.21 points or 0.06 per cent — from its previous session’s close of 36,373.44 points.

It touched an intra-day high of 36,515.58 points and a low of 36,279.33 points. The BSE market breadth was bearish with 1,738 declines against 831 advances.

The top gainers on the Sensex were Vedanta, Yes Bank, ITC, Bharti Airtel and Adani Ports whereas Kotak Mahindra bank, Larsen and Toubro, Hero MotoCorp, Tata Steel, Coal India were the top losers.

IANS

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Business

Domestic political uncertainty subdues equity indices

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Mumbai, July 18: Domestic political uncertainty in the wake of a no-confidence motion against the central government dragged the equity indices lower on Wednesday.

According to market observers, profit booking in mid-and-small-cap stocks also subdued the equity indices.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,980.45 points — lower by 27.60 points or 0.25 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 36,722.41 points, closed at 36,373.44 points — lower by 146.52 points or 0.40 per cent — from its previous session’s close of 36,519.96 points.

The barometer index fell after it touched a fresh all-time high of 36,747.87 points. The index had dipped to a low of 36,320.92 points during the intra-day trade.

On Tuesday — the previous trade session — both the indices had made gains on the back of a slide in global crude oil prices along with expectations of fund infusion into public sector banks.

IANS

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