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

Mukesh Buch
05 May, 2015
New York City

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.

[R]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.[/R]

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.