Mahindra & Mahindra’s Farm Equipment Sector sells 14,207 vehicles during November sales

Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 16.5 billion Mahindra Group, has reported its sales numbers for November 2014. Domestic sales in November 2014 stood at 14,207 units, as against 22,343 units during November 2013. Total tractor sales (domestic + exports) during November 2014 stood at 15,333 units, as against 23,119 units for the same period last year. Exports for the month stood at 1,126 units, registering a growth of 45%. Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

Ranbaxy Laboratories advances on launching first Biosimilar of Infliximab Drug in India

Ranbaxy Laboratories is currently trading at Rs. 631.65, up by 19.25 points or 3.14% from its previous closing of Rs. 612.40 on the BSE. The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 637.85 and Rs. 620.00 respectively. So far 154046 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 697.50 on 10-Nov-2014 and a 52 week low of Rs. 306.05 on 27-Jan-2014. Last one week high and low of the scrip stood at Rs. 631.00 and Rs. 607.25 respectively. The current market cap of the company is Rs. 26866.97 crore. The promoters holding in the company stood at 63.37 % while Institutions and Non-Institutions held 21.49 % and 13.73 % respectively. Ranbaxy Laboratories, one of the India’s largest pharmaceutical company, has launched Infimab, the first 'Remicade (Infliximab) biosimilar in India. The product was launched at the Indian Rheumatology Association Conference (IRACON) in Chandigarh, in the presence of over a thousand rheumatologists and doctors from around the country. Infimab is being introduced in the Indian market through a licensing partnership with EPRIRUS Biopharmaceuticals, Inc., a US and Swiss-based Biopharmaceutical company focused on the global development and commercialization of biosimilar monoclonal antibodies. Infimab will be manufactured by Reliance Life Sciences at a facility in Mumbai. The innovator reference product is currently marketed for the treatment of inflammatory diseases including rheumatoid arthritis, Crohn's Disease, ankylosing spondylitis, ulcerative colitis, psoriatic arthritis and psoriasis. Infimab marks Ranbaxy's entry into mAb (Monoclonal Antibodies) biologics, and will help the company provide greater access to quality biologic medicines in management of conditions like rheumatoid arthritis. Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.

Maruti Suzuki's Service Campaign of Ciaz to replace faulty clutch operation system

Maruti Suzuki India Limited will proactively undertake a Service Campaign to inspect a suspected fault and replace the relevant part of clutch operation system of a batch of 3,796 Ciaz (manual transmission) cars.  These cars are among those manufactured till 7th November 2014.

The Company has decided to undertake a Service Campaign for these cars, in the interest of customers. Maruti Suzuki dealers have started to communicate with owners of the impacted vehicles.

Service Campaigns are undertaken globally by automobile companies to rectify faults that may potentially cause inconvenience to customers.

The inspection and replacement will be done free of cost to the customer.

Customers of Ciaz (manual transmission) can check the Company's website www.marutisuzuki.com to ascertain if their Ciaz is among the above mentioned vehicles.

The customer is requested to fill in the chassis number (MA3 followed by 14 digit alpha-numeric number) on the computer screen. The chassis number is embossed on the vehicle ID plate and is also in the vehicle invoice / registration documents.

Customers may also contact the nearest Maruti Suzuki dealer workshop to ascertain if their vehicle is among the above vehicles.

M&M crashes on poor Nov sales

Mahindra & Mahindra (M&M) tanked nearly 8 per cent from a high of Rs 1,336 to a low of Rs 1,231 in the noon deals on the back of poor monthly sales.

According to a release issued by the company to the BSE, M&M reported a sharp 34 per cent drop in monthly sales at 14,207 units sold in November 2014 when compared with 22,343 sold in November 2013.

The stock has recovered partially from the day's low, and is now down 2.3 per cent at Rs 1,293. The counter has seen trades of around 56,000 shares as against the two-week daily average volume of around 87,000 shares on the BSE.

Meanwhile, the Sensex has slipped into the red and is now down 52 points at 28,642.

Bharti Airtel to offer group-sharing plans for postpaid users

To increase the base of lucrative postpaid subscribers, Bharti Airtel, the country's biggest mobile operator, plans to come out with a new plan that allows sharing call and data plans between a group of five members. Bharti Airtel expects a further push in the number of postpaid subscriber base. Of the nearly 210 million mobile customers of Airtel, around 5% are on postpaid. Meanwhile, Airtel's rival Vodafone also gives a similar offering to its postpaid customers under the 'Red' plan. Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.

Atul Auto reports 18.82% jump in November sales

Atul Auto has registered 18.82% growth in its November 2014 sales. The company has sold 3807 units in the month against 3204 units sold in November 2013. Total sales from April 2014 to November 2014 were 27,630 vehicles, a rise of 13.25%, as compared to 24,398 vehicles sold in the same period a year ago. Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.

TCS trades higher on BSE

The scrip is currently trading at Rs. 2673.00, up by 29.90 points or 1.13% from its previous closing of Rs. 2643.10 on the BSE. The scrip opened at Rs. 2643.00 and has touched a high and low of Rs. 2677.00 and Rs. 2643.00 respectively. So far 9572 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2834.00 on 07-Oct-2014 and a 52 week low of Rs. 1960.00 on 13-Dec-2013. Last one week high and low of the scrip stood at Rs. 2688.00 and Rs. 2612.05 respectively. The current market cap of the company is Rs. 520336.09 crore. The promoters holding in the company stood at 73.90 % while Institutions and Non-Institutions held 21.64 % and 4.47 % respectively. Tata Consultancy Services’ (TCS) flagship brand, TCS BaNCS was listed as 'Best in Class' for two categories of Online Banking Solution by CEB TowerGroup analysts. CEB TowerGroup analysts ranked TCS BaNCS as 'Best in Class' for Design and Security and Enterprise Support categories among top vendors providing online Banking Solutions around the world. The report commented on Data Security, Business Process support and Customer security capability that protects the end user firm from unnecessary risk. In Enterprise Support, the report highlighted the customer footprint and global presence of TCS BaNCS in addition to our vendor collaboration strategy and methodology which paves the way for strong and deep engagements with customers. TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

Nifty reclaims 8600, Sensex rises; Hero, Sun Pharma rally

The market started the week on a positive note on Monday. The Sensex climbed 93.78 points to 28787.77 while the Nifty reclaimed 8600, up 25.95 points at 8614.20. About 728 shares have advanced, 274 shares declined, and 43 shares are unchanged on the Bombay Stock Exchange.   Sun Pharma, SBI, Hero Motocorp, NTPC, Infosys, Asian Paints, BPCL and HCL Technologies topped the buying list in early trade, up 1-3.6 percent. However BHEL, Coal India, Reliance Industries, HUL, ONGC, Cairn India and DLF lost 0.5-2 percent. The Indian rupee slipped by 21 paise in the early trade on Monday. It has opened at 62.23 per dollar versus 62.02 on Friday. Agam Gupta of Standard Chartered said," The dollar strength against other currencies is leading a similar move with the rupee too. The demand from the local government banks is persistent and is expected to continue." He further added, "Foreign inflows are expected to continue and exporters are likely to sell on upticks to Rs 62.50/dollar. We expect to see a range of Rs 62.10-62.50/dollar for the day." Meanwhile, Asian markets are mixed this morning, as Japan's benchmark index rose to a seven-year peak while Yen marked a new seven-year low. China's official PMI fell to 50.3 in November, missing estimates for a 50.6 figure and slowing from October's reading of 50.8. In the US, Wall Street finished lacklustre on Friday amid a slide in oil prices. The Dow Jones and the Nasdaq ended flat and the S&P 500 was down a quarter of a percent. The Dow and S&P 500 posted a second straight month of gains. Meanwhile the US ten year bond yield dipped sharply to 2.17 percent. In commodities, Nymex crude was down 10.2 percent hitting its lowest settlement since September 2009, currently trading at USD 64. Meanwhile, Brent is trading below USD 70 per barrel. From precious metals space, gold slid 2 percent and silver slumped more than 6 percent to its lowest since 2009 after Swiss voters overwhelmingly rejected proposals on Sunday to boost gold reserves.