Maruti Suzuki India's total vehicle sales declined 11.4% to 86,196 units in April 2014 over April 2013. The company made the announcement on Thursday, 1 May 2014. Maruti Suzuki India said its total domestic sales fell 12.6% to 79,119 units in April 2014 over April 2013. The company's total exports rose 4.4% to 7,077 units in April 2014 over April 2013.
Mahindra & Mahindra's Farm Equipment Sector's (FES) domestic sales fell 10% to 19.895 units in April 2014 over April 2013. Total tractor sales (domestic + exports) dropped 11% to 20,731 units in April 2014 over April 2013. Exports declined 17% to 836 units in April 2014 over April 2013.
Commenting on the monthly performance, Rajesh Jejurikar, Chief Executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra said, "We have registered a sale of 19895 units during April 2014. Unseasonal rains and hail during March in some parts of the country has impacted sentiment leading to lower sales of tractors in April. We do hope that the onset of monsoon brings cheer to farmers and the agriculture industry alike".
The company's auto sales declined 12% to 36274 units in April 2014 over April 2013. Exports rose 42% to 2167 units in April 2014 over April 2013. Domestic sales declined 15% to 34107 units in April 2014 over April 2013.
Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra said, It is unfortunate that the auto industry has not seen an upturn over the last couple of months in spite of a reduction in excise duty. We do hope that post the general elections, sentiments improve leading to a better economic situation and hence increased demand. At Mahindra, we are happy with our Exports performance for the month and we continue to be optimistic going forward and expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives. The sales figures were announced on 1 May 2014.
Hero MotoCorp said its sales rose 14.4% to 571,054 units in April 2014 over April 2013.
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Eicher Motors said sales of Eicher branded trucks and buses fell 12.3% to 3,434 units in April 2014 over April 2013. In the domestic CV market (5T and above), Eicher has reported 25.9% fall in sales to 2,791 units in April 2014 over April 2013. In exports, Eicher trucks and buses recorded 325.8% surge in sales to 643 units in April 2014 over April 2013.
Aviation stocks may be in focus as jet fuel or ATF prices were cut by 1% after a decline in international rates. Indian Oil Corporation lowered the price of aviation turbine fuel (ATF) in Delhi by Rs 766.34 per kilolitre, or 1%, to Rs 71,033.87 per kl.
IFCI has reduced its lending benchmark rate, "IFCI Benchmark Rate (IBR)" from 12.70% to 12.20% per annum with monthly rests. This new IBR shall be applicable from 2 May 2014.
Grasim Industries announces its Q4 results today, 2 May 2014.
PSU OMCs will be in focus as the under-recovery on High Speed Diesel (HSD) applicable for 1st fortnight of May effective 1 May 2014 will go up to Rs 6.80 per litre. This was Rs 5.49 per litre during 2nd fortnight of April 2014 from 16 April 2014. In the case of PDS Kerosene and Domestic LPG the under-recoveries for the first fortnight of May 2014 will be Rs 33.85 per litre (Rs 34.43 per litre in last fortnight) and Rs 449.13 per cylinder (Rs 506.06 per cylinder in last fortnight) respectively. Oil Marketing Companies (OMCs), effective 1 May 2014, are now incurring combined daily under-recovery of about Rs 342 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is higher than Rs 337 crore daily under-recoveries during previous fortnight. The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the 2nd fortnight of April 2014.
NTPC announced that balance 20 megawatts (MW) Solar unit of Rajgarh Solar PV Power Station is declared on commercial operation with effect from 30 April 2014. With this, the capacity of Rajgarh Solar PV Power Station has become 50 MW and the total capacity of non-conventional energy projects of NTPC Ltd. has become 95 MW. Further, with the commissioning and commercial declaration of 20 MW Solar unit at Rajgarh, the total commissioned and commercial capacity of NTPC group has become 43039 MW and 41879 MW respectively, the company said.
IDBI Bank's net profit fell 6.53% to Rs 518.23 crore on 4.28% increase in total income to Rs 7866.52 crore in Q4 March 2014 over Q4 March 2013. Net profit fell 40.42% to Rs 1121.40 crore on 4.57% increase in total income to Rs 29576.27 crore in the year ended March 2014 over the year ended March 2013. The result was announced after market hours on Wednesday, 30 April 2014.
On a consolidated basis, JSW Energy's net profit fell 47.98% to Rs 174.62 crore on 10.57% decline in total income to Rs 2113.03 crore in Q4 March 2014 over Q4 March 2013. Consolidated net profit fell 16.48% to Rs 754.74 crore on 2.62% decline in total income to Rs 8907.63 crore in the year ended March 2014 over the year ended March 2013. The result was announced after market hours on Wednesday, 30 April 2014.
Castrol India turns ex-dividend today, 2 May 2014, for a final dividend of Rs 3.50 per share for the year ended 31 December 2013.
TVS Motor Company turns ex-dividend today, 2 May 2014, for second interim dividend of Rs 0.75 per share for the year ending 31 March 2014.
CMI said that its board will meet on 7 May 2014, to consider issue of equity shares on preferential basis to promoter, promoter group, associates and others and to decide the relevant date for the purpose of preferential issue.
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