Tata Motors, Ashok Leyland up 3% post December sales
Posted on 2nd January 2018 |
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Tata Motors and Ashok Leyland were trading higher by 3% each, recovering from their respective intra-day lows, after they reported a strong set of sales numbers in December 2017.
Tata Motors was up 3% at Rs 439, its highest level since November 10, 2017 on the BSE, after the company’s commercial and passenger vehicles domestic sales grew 52% at 54,627 units in December. The company attributed strong growth due to increasing demand for vehicles across segments, new product launches and strategic customer initiatives. It had sold 35,825 units in December 2016.
“The commercial sector has shown good recovery after the headwinds and regulatory challenges last year. The steady production ramp-up of the new range of BS4 vehicles and continued uptick in sales in consumption-driven sectors have led the growth,” Tata Motors said in a press release.
The company recorded highest ever December sales of 14,180 units for passenger vehicles since 2012 and the retail sales for this month was also the highest in past 6 years, it added.
Ashok Leyland was too up 3% at Rs 123 on back of two-fold jump in trading volumes. A combined 16.91 million shares changed hands on the BSE and NSE till 12:27 PM;
The company reported a rise of 79% in its total sales for the month of December 2017 at 19,253 units as compared with 10,731 units sold in the same month a year-ago.
The medium and heavy commercial vehicle (M&HCV) sales grew sharply by 82% to 15,950 units as compared with 8,782 units sold in November 2016. Light commercial vehicle (LCV) sales increased 69% to 3,303 units as compared with 1,949 units sold in the same month a year-ago. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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