IndiGo to Buy 250 Airbus, Sensex in India Drops

Sarla Buch
17 Aug, 2015
New York City

Tata Motors July global wholesale slipped 8%. IndiGo agreed to buy 250 Airbus A320neo single-aisle jets at a list price of $26.5 billion from Airbus Group.

[R]6:30 PM Mumbai – Tata Motors July global wholesale slipped 8%. IndiGo agreed to buy 250 Airbus A320neo single-aisle jets at a list price of $26.5 billion from Airbus Group.[/R]

Market indexes in Mumbai traded lower after investors booked profit after a recent rally and public sector banks rallied for the second week in a row.

Rupee weakened 31 paisa to 65.31 against one U.S. dollar.

The Sensex Index slipped 189.04 or 0.7% to close at 27,878.27. The CNX Nifty fell 41.25 or 0.5% to 8,477.30.

Gainers & Losers

Amtek Auto Limited declined 10.8% to ₹133.10 after net in the first-quarter swung to a loss of ₹157.60 crore compared to profit of ₹86.08 crore a year ago period.

Total revenues in the quarter dropped 12.7% to ₹854.22 crore.

BEML Limited decreased 1.2% to ₹1,355.45 after net loss in the first-quarter narrowed to ₹74.87 crore compared to ₹95.53 crore.

Net revenues in the quarter jumped 17.7% to ₹597.35 crore.

Birla Corporation Ltd surged 19.3% to ₹540.25 after cement maker agreed to acquire two cement units of Lafarge India for about ₹5,000 crore.

Gayatri Projects Limited jumped 5.3% to ₹439.10 after net in the first-quarter surged 377.2% to ₹10.69 crore.

Net revenues in the quarter soared 19.4% to ₹409 crore.

Housing Development Finance Corporation Limited fell 1.5% to ₹1,279.50 after the company agreed to sell 9% stake in HDFC Standard Life Insurance Company to its joint venture partner Standard Life for about ₹95 per share.

IndiGo, the largest domestic airline agreed to buy 250 Airbus A320neo single-aisle jets worth $26.5 billion from France-based Airbus Group.

Manappuram Finance Limited increased 1.2% to ₹24.65 after net in the first-quarter soared 34.3% to ₹59.30 crore.

Net revenues in the quarter gained 17.9% to ₹540.96 crore.

Nitin Fire Protection Industries Limited jumped 9.9% to ₹47.05 on reports that the movie star Amitabh Bachchan bought a 0.51% stake in the company.

Punj Lloyd Limited plunged 12.2% to ₹27.70 after net loss in the first-quarter widened to ₹597.34 crore compared to ₹363.62 crore in the same period last year.

Net sales in the quarter tumbled 41.1% to ₹652.77 crore.

Suven Life Sciences Limited advanced 2.9% to ₹247.40 after net in the first-quarter plunged 41.8% to ₹20.23 crore.

Net revenues in the quarter declined 25.6% to ₹106.06 crore.

Tata Motors Limited edged up 0.2% to ₹355.95 after the truck and motor vehicle maker said July global wholesale sales slipped 8% to 73,535 units.

The company added commercial vehicle wholesale in the month fell 3% to 30,278 units and passenger vehicles dropped 12% to 43,257 units.