India Movers: CSB Bank, DCX Systems, Eicher Motors, Hero Motocorp, NMDC, Patanjali Foods, TVS Motor, Tata Motors

Arun Goswami
02 Jul, 2024
Mumbai

Vehicle sales in June showed broad market weakness amid weak demand in rural markets for 2-wheelers and a lack of enthusiasm for passenger cars in urban markets. 

The Sensex index decreased by 0.1% to 79,384.47, and the Nifty index fell by 0.1% to 24,109.90. 

On the Mumbai stock exchange, 215 stocks traded at their 52-week highs, and 7 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.0%, and the Indian rupee weakened to ₹83.53 against the U.S. dollar.

Patanjali Foods jumped 0.9% to ₹1,713.95, and the company agreed to acquire Patanjali Ayurveda for 1,100 crore, which will be paid in five installments. 

Hero Motocorp jumped 0.2% to ₹5,611.25, and the 2-wheeler maker said total sales in June jumped 15% to 5,03,000 units. 

In June, domestic vehicle sales rose 16% to 4,91,000, and exports decreased to 12,032 from 14,236 units in the corresponding month a year ago. 

Eicher Motors declined 0.7% to ₹4,603.0, and the vehicle maker said Enfield sales in June declined 5% to 73,141 units and exports plunged 27% to 7,024 units. 

Tata Motors decreased 1.3% to ₹989.50, and the company said total domestic vehicle sales in June decreased 8% to 74,147 units. 

TVS Motor Company advanced 0.5% to ₹2,365.85, and the vehicle maker said total 2-wheeler sales in June increased 6% to 322,000 units. 

Domestic sales rose 8% to 256,000 units, and exports declined 3.9% to 76,074 units. 

Mahindra & Mahindra decreased 0.1% to ₹2,873.0, after the passenger car market reported June sales rose 23% to 40,022 units. 

NMDC declined 1.5% to ₹247.95, and the iron ore mining company said total production eased to 3.37 million tons from 3.48 million tons a year ago. 

Total sales decreased to 3.73 million tons from 4.1 million tons a year ago. 

The company lowered the price of lump iron ore by ₹500 to ₹5,950 per ton and fine ore by the same amount to ₹5,110 per ton. 

CSB Bank advanced 3.5% to ₹388.65, and the company said total deposits increased 22.2% to 29,920 crore and total loans rose 17.8% to 25,099 crore. 

DCX Systems soared 15.6% to ₹438.0, and the company won an order for 1,250 crore for electronic modules to be supplied over three years.