MindTree, Polaris Consulting, AstraZeneca Pharma and Tata Elxsi are 13 stocks from BSE500 index hit 52-week lows on the BSE in intra-day trade.
Onus of funding Hindustan Foundries, whose capital has been eroded due to losses, now vests with Ashok Leyland, not its promoters
Stock dips 3.5% on worry that union with Hinduja Foundries would be a negative
Hinduja Foundries has been in the red since the last five years
In 2015-16, Hinduja Foundries loss was Rs 394.25 crore as compared to Rs 262.44 crore, a year ago
Hinduja Foundries locked in lower circuit of 20% at Rs 44, and Ashok Leyland down 3% at Rs 82 on the BSE at 09:30 am.
The company's expansion plan comes at a time when competition back home has increased manifold
Partners enter into licensing deal under which Indian firm will continue to get technology from Nissan
Company sold 11,544 units in August 2016
Total M&HCV sales fell to 8,182 units from 8,835 units, a year ago
Commentators are unanimous that Ashok Leyland has transformed during his tenure and the momentum he brought in continues
Most of these markets, especially, Africa is catered by Chinese companies and in the recent years Indian companies are making good inroads
Growth plans are centred around unwavering commitment towards the core business of commercial vehicles and portfolio rationalisation
Competitive pressures, however, remain high resulting in a fall in realisations
MHCV domestic volume for the quarter was 22,061 units, a record high
Medium and heavy commercial vehicles domestic volume for the quarter was at a record high of 22,061
The new plant in Kenya will serve at least three neighbouring countries, besides catering to local demand
The company expects to maintain growth in domestic M&HCV market this year
The stock dipped 5% to Rs 93.30 in intra-day trade, extending its Monday 2% decline on the BSE.
After a strong FY16, the single-digit volume growth for two months could pressure the stock