Auto stocks gained. Mahindra & Mahindra (M&M) (up 1.08%), Eicher Motors (up 1%) and TVS Motor Company (up 0.88%) gained. Ashok Leyland declined 1.36%.
Tata Motors gained 0.51% after the company announced that Tata Motors passenger and commercial vehicle sales (including exports) rose 7% to 43,160 vehicles in July 2016 over in July 2015. The company's domestic sales of Tata commercial and passenger vehicles rose 8% to 37,789 units in July 2016 over in July 2015. The company's sales from exports rose 6% to 5,371 units in July 2016 over in July 2015. The announcement was made after market hours yesterday, 1 August 2016.
Maruti Suzuki India (MSIL) rose 1.83% to Rs 4,959 after the company increased prices of select models ranging from Rs 1,500 to Rs 5,000 ex-showroom Delhi with effect from 1 August 2016. The announcement was made after market hours yesterday, 1 August 2016. The stock hit a high of Rs 5,000 so far during the day, which is also a record high for the counter. In case of newly launched models like Vitara Brezza and Baleno, the prices are being increased by upto Rs 20,000 and upto Rs 10,000 respectively, MSIL said. This price revision is based on factors like segment wise demand, forex movements and strategic objectives of the company, MSIL said in a statement.
MSIL reported 12.7% growth in total sales to 1.37 lakh units in July 2016 over July 2015. Domestic sales rose 13.9% to 1.25 lakh units in July 2016 over July 2015. This is the company's record monthly sales in the domestic market. The company's exports rose 0.3% to 11,338 units in July 2016 over July 2015. The announcement was made during market hours yesterday, 1 August 2016.
Hero MotoCorp (HMCL) rose 1.31% after the company announced that its total two-wheelers sales rose 9.13% to 5.32 lakh units in July 2016 over July 2015. The announcement was made after market hours yesterday, 1 August 2016. In July 2016, HMCL commenced retail sales of Splendor iSmart 110 – the first motorcycle to have been completely designed and developed by its in-house R&D team at the state-of-the-art, world class Hero Centre of Innovation and Technology in Jaipur. The initial customer response to the new bike has been positive, the company said. With the above average monsoon and implementation of the seventh pay commission recommendations, the company remains cautiously optimistic about a positive turnaround in the industry in the second half of the year, HMCL said in a statement.
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