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Sensex slips into red; Bajaj Auto falls 3% on Feb sales nos

Mar 02, 2015, 01.17 PM IST | Source: Moneycontrol.com

Bajaj Auto falls 4 percent on weak auto sales number in February. It reported a 21 percent decline in motorcycle sales at 2,16,077 units in February 2015. The company had sold 2,73,323 units in the year ago period.

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Sensex slips into red; Bajaj Auto falls 3% on Feb sales nos

Bajaj Auto falls 4 percent on weak auto sales number in February. It reported a 21 percent decline in motorcycle sales at 2,16,077 units in February 2015. The company had sold 2,73,323 units in the year ago period.

13:11

The News International Team

The market is still flat but the Nifty holds 8900-level. The 50-share is up 18.75 points 8920.60. The Sensex is down 68.53 points at 29292.97. About 1277 shares have advanced, 1302 shares declined, and 183 shares are unchanged.

Bajaj Auto falls 4 percent on weak auto sales number in February. It reported a 21 percent decline in motorcycle sales at 2,16,077 units in February 2015. The company had sold 2,73,323 units in the year ago period. Its exports fell by 20 percent during the month to 1,12,909 units from 1,42,009 units in the corresponding year-ago period. The company ‘s total vehicle sales last month stood at 2,43,319 units, down 22 percent year-on-year.

ITC also continues to lose 4 percent. Other laggards include Tata Motors, Hero MotoCorp and Bharti Airtel.

Among the gainers are Axis Bank, L&T, Cipla, BHEL and HDFC Bank.

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Axis Bank continues to gain. Credit Suisse says this Budget provide more reason to be overweight on private banks. With FII and FDI limits being merged the foreign limit for private banks will go upto 74 percent and key beneficiaries will be Axis and YES Bank.

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Nifty inches towards 9000; Axis Bank, L&T, BHEL top gainersRead More »

Axis Bank, L&T, HDFC twins and BHEL are top gainers in the Sensex. ITC is still down 3 percent while GAIL, Wipro, Tata Power and Sesa Sterlite are among the losers.

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Axis Bank, ICICI Bank, SBI, ONGC and HDFC Bnak are top gainers while Tata Power, ITC, Bharti Airtel and TCS are major laggards in the Sensex.

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READ MORE ON  BSE, sensex, NSE, Nifty, Market, Budget, Auto, Bajaj, ITC, GAIL, tata Motors, Axis Bank
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