Shares of five automobile firms rose 0.01% to 1.12% at 11:47 IST on BSE after public sector oil marketing companies announced a reduction in retail selling price of petrol and diesel yesterday, 15 April 2015.
Meanwhile, the S&P BSE Sensex was down 111.24 points or 0.39% at 28,688.45.
Mahindra & Mahindra (up 0.39%), Maruti Suzuki India (up 0.52%), and Bajaj Auto (up 0.01%) edged higher. TVS Motor Company (down 1.41%) edged lower.
PSU OMCs announced a reduction in retail selling price of petrol and diesel after trading hours yesterday, 15 April 2015. Indian Oil Corporation (IOCL) announced a reduction in retail selling price of petrol by 80 paise per litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of petrol in Delhi will become Rs 59.20 per litre. IOCL announced a reduction in retail selling price of diesel by Rs 1.30 per litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of diesel in Delhi will become Rs 47.20 litre. The reduction in petrol and diesel prices became effective from the midnight of 15/16 April 2015.
Tata Motors rose 0.81% at Rs 544.65. Tata Motors after market hours yesterday, 15 April 2015 said that its group global wholesales, including Jaguar Land Rover rose 9% to 1.03 lakh units in March 2015 over March 2014. Global wholesales of Tata Motors' passenger vehicles rose 17% to 15,373 units in March 2015 over March 2014. Global wholesales of Jaguar Land Rover (JLR) rose 15.65% to 50,093 units in March 2015 over March 2014.
Eicher Motors rose 1.12% at Rs 16,040. The Reserve Bank of India (RBI) yesterday, 15 April 2015, notified increase in the limit of shareholding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) to 49% of the company's paid up capital from 24% earlier. Total holding of FIIs in Eicher Motors stood at 19.47% as on 31 December 2014.
Hero MotoCorp fell 1.14% at Rs 2,495. Hero MotoCorp before market hours today, 16 April 2015 said that it had invested $25 million in Erik Buell Racing, Inc., a Delaware corporation (EBR), through a wholly owned subsidiary in Delaware, USA by the name of HMCL (NA), Inc. EBR has a wholly owned subsidiary, Erik Buell Racing LLC, a limited liability company organized in Wisconsin (Subsidiary). On 16 April 2015, the Board of Directors of EBR has passed a resolution for an assignment for the benefit of creditors under Chapter 128 of the Wisconsin Statutes for itself and the subsidiary (in its capacity as the sole member and manager of the subsidiary) and to direct the proposed assignee or his counsel, to file such assignment in the Court for the County of Walworth, State of Wisconsin, Hero MotoCorp said. EBR and Subsidiary will also be ceasing their operations with effect from 16 April 2015, Hero MotoCorp added.
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