Maruti Auto Sales Jumps; Sun Pharma, L&T, Cipla Net Decline

Mukesh Buch
01 Jun, 2015
New York City

Rate sensitive stocks gained ahead of interest rate decision from the Reserve Bank of India on Tuesday. Maruti said auto sales climbed 14% and Hyundai Motor sales rose 2%. L&T quarterly profit declined 27%. Jet Airways net loss narrowed. Sun Pharma quarterly profit plunged 44%.

[R]6:00 PM Mumbai – Rate sensitive stocks gained ahead of interest rate decision from the Reserve Bank of India on Tuesday. Maruti said auto sales climbed 14% and Hyundai Motor sales rose 2%. L&T quarterly profit declined 27%. Jet Airways net loss narrowed. Sun Pharma quarterly profit plunged 44%.

Market indexes on Dalal Street closed slightly higher ahead of interest rate decision by the Reserve Bank.

Rate sensitive stocks traded higher in Mumbai trading ahead of Reserve Bank of India policy meeting tomorrow.

Rupee strengthened 11 paisa to 63.70 against one U.S. dollar.

The Sensex Index rose 20.55 to close at 27,848.99. The CNX Nifty slid 0.25 to 8,433.40.

Gainers & Losers

Cipla Limited climbed 2.9% to ₹669.20 after the drug maker said net profit in the fourth-quarter edged down to ₹259.66 crore.

Net revenues in the quarter climbed 20.8% to ₹3,153.89 crore.

Hyundai Motor India Ltd, the South Korea-based passenger car maker said total vehicle sales in May increased 1.5% to 52,515 units in India.

The domestic sales in the month rose 3.4% to 37,450 units but exports sales decreased 2.9% to 15,065 units the same period last year.

Jet Airways (India) Limited declined 6.1% to ₹362.05 after the air transportation services provider said net in the fourth-quarter narrowed to ₹1,813.71 crore compared to ₹3,667.85 crore in the same quarter a year ago.

Net revenues in the quarter surged 32.8% to ₹6,064.52 crore.

Larsen & Toubro Limited jumped 2.7% to ₹1,701 after the engineering infrastructure maker said net in the fourth-quarter plunged 27.1% to ₹2,070 crore.

Gross revenues in the quarter increased 3.8% to ₹28,275 crore.

The company said it received new orders worth ₹1,099 in the month of May.

Maruti Suzuki India Limited gained 2.6% to ₹3,885 after the auto maker said total sales in May soared 13.8% to 114,825 units compared to 100,925 in the same period a year ago.

The domestic sales in the month jumped 13% to 102,359 units compared to 90,560 in the same period a year ago and export sales climbed 20% to 12,433 units compared to in the same period last year.

Neyveli Lignite Corporation Limited surged 14.1% to ₹83.65 after the power generation company said net in the fourth-quarter soared 36.9% to ₹676.81 crore.

Net revenues in the quarter jumped 13.7% to ₹2,204.45 crore.

Nestle India Limited declined 3.5% to ₹6,614.90 after the Uttar Pradesh food regulator launched a court complaint against the company concerning food safety standard for Maggi brand products.

Power Grid Corporation of India Limited edged down to ₹143 after the power transmission company said net in the fourth-quarter soared 20.1% to ₹1,412.48 crore.

Total revenues in the quarter climbed 17.4% to ₹4,909.56 crore.

Sun Pharmaceutical Industries Ltd declined 7.9% to ₹889.95 after the pharmaceutical products maker said net in the fourth-quarter tumbled 44% to ₹888.05 crore.

Total revenues in the quarter surged 53.8% to ₹6,540.74 crore.

Suzlon Energy Ltd tumbled 5.4% to ₹23.85 after the wind turbine maker said net loss in the fourth-quarter widened to ₹1,212.06 crore compared to ₹603.45 crore in the same period last year.

Total revenues in the quarter declined 25.9% to ₹6,645.05 crore.