Sensex Drops 2.1%, Maruti Leads Auto Sales Growth in December

Sarla Buch
04 Jan, 2016
New York City

Ashok Leyland said vehicle sales in December soared 31%. Maruti Suzuki sales jumped 13.5% but Tata Motors sales declined 4% in the month. Bajaj Auto sales were unchanged and Hero MotoCorp said two-wheeler sales declined 5.3% in the month.

[R]6:00 PM Mumbai, India – Ashok Leyland said vehicle sales in December soared 31%. Maruti Suzuki sales jumped 13.5% but Tata Motors sales declined 4% in the month. Bajaj Auto sales were unchanged and Hero MotoCorp said two-wheeler sales declined 5.3% in the month.[/R]

Stocks in Mumbai dropped sharply following China market rout after a private survey showed a weakness in manufacturing sector.

Stocks were on the defensive and the Sensex index declined 2.1% after Shanghai market index plunged more than 7% and market was halted for the rest of the day.

The latest plunge in Shanghai was by a manufacturing survey showing contraction for the fifth month in a row. In addition, the domestic manufacturing sector in India also declined to a 28-month level in December.

Rupee weakened 42 paisa to ₹66.56 against one U.S. dollar.

The Sensex Index declined 537.55 or 2.1% to close at 25,623.35. The CNX Nifty dropped 191.90 or 2.2% to 7,791.30.

Crude oil jumped 1.7% in Asian trading after tensions between Saudi Arabia and Iran flared. Saudi cut its diplomatic ties with the rival nation after the nation executed 47 on terrorism charges including a Shite cleric

Gainers & Losers

Ashok Leyland Limited gained 3.6% to ₹91.95 after the commercial vehicle maker said total sales in December soared 31% from a year ago to 12,209 units.

Bajaj Auto Limited decreased 1.3% to ₹2,488.15 after the vehicle maker said December two-wheeler sales were unchanged at 289,244 units.

Eicher Motors Limited rose 1% to ₹17,506.25 after the tractor and heavy duty vehicles maker reported December sales soared 41% from a year ago to 40,453 units.

Hero MotoCorp Limited dropped 1.8% to ₹2,640 after the largest motorcycle maker said December sales declined 5.13% from a year ago to 499,665 units

IRB Infrastructure Developers Limited surged 5.3% to ₹257.70 after the infrastructure developer received an order worth ₹10,050 crore for a road project in Jammu and Kashmir.

Maruti Suzuki India Limited slipped 1% to ₹4,583.40 after the vehicle maker said December auto sales jumped 13.5% from a year ago to 111,333 units.

Punj Lloyd Limited soared 6.1% to ₹30.50 after the construction services provider secured four highway projects worth ₹1,555 crore in Bihar, Chhattisgarh, Odisha and Punjab.

SML Isuzu, Ltd dropped 5% to ₹1,170.90 after the vehicle maker reported total sales in December declined 18.26% from a year ago to 877 vehicles

Tata Motors Limited plunged 6.1% to ₹377.15 after the truck and motor vehicle maker said December passenger and commercial vehicles sales slipped 4% from a year ago to 39,973 units.

Tulsi Extrusions Limited jumped 4.9% to ₹5.40 after the plastic products maker secured ₹30 crore order in Sardar Sarovar Narmada Nigam, Gujarat.