India Movers: Ahluwalia Contracts, Eicher Motors, Hero MotoCorp, Maruti Suzuki, Tata Motors

Arun Goswami
03 Jun, 2024
Mumbai

Stocks and market indexes soared 3% in early trading after exit polls projected a solid majority for the BJP-led ruling coalition in the general election. 

The official results are scheduled to be released on June 4,

The Sensex index increased by 2.8% to 76,009.39, and the Nifty index rose by 2.7% to 23,138.40.

On the Mumbai stock exchange, 178 stocks traded at their 52-week highs, and 16 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.95%, and the Indian rupee edged lower at ₹82.95 against the U.S. dollar.

Vehicle markers were in focus after May unit sales rose in line with market expectations. 

Mahindra & Mahindra jumped 5.1% to ₹2,633.70 after the company said May passenger vehicle sales increased 31% to 43,218 and tractor sales advanced 9% to 37,109 from a year ago, respectively. 

Tata Motors advanced 2.5% to ₹946.20 after the company said May domestic passenger car sales rose 2% to 47,057 and commercial vehicle sales advanced 2% to 29,651 from a year ago, respectively. 

Eicher Motors decreased 0.6% to ₹4,703.75 after the company said motor cycle sales in May decreased 8% to 71,010 units from 77,461 a year ago. 

Hero MotorCorp soared 1.9% to ₹5,199.40 after the company said two-wheeler sales in May declined 4.1% to 4,98,000 from 5,19,000 a year ago, and domestic unit sales declined 5.7% to 4,79,000 while exports soared 67.3% to 18,673. 

Maruti Suzuki jumped 0.6% to ₹12,478.40 after the largest passenger car maker in India reported 2% decline in vehicle sales in May. 

Total wholesale sales declined 2% to 174,551 units in broad sales weakness. 

Ahluwalia Contracts jumped 7% to ₹1,255.10 after the construction company won a contract from India Jewellery Park to build another office complex in Navi Mumbai for ₹2,157 crore. 

In addition, the company won a ₹88.5 crore contract from Daffodil Hotel.