Friday, 2 May 2014
Bata falls 6% on SSS growth woes
Shares of
Bata India fell 6 percent after it reported mute growth in March quarter
earnings. Its earnings were below estimates of most analysts on the street with
same store sales growth at 3-4 percent versus estimates of 4-5 percent.
M&M falls 2% on low April
sales, unseasonal rains impact
Shares of M&M slumped over 2
percent, as its sales in April were low. It reported 11 percent decline in
total tractor sales at 20,731 units in April. The company had sold 23,202 units
in the same month last year.
IDBI up 5%, co confident of
improving asset quality in FY15
Shares of
IDBI Bank jumped over 5 percent as it is reacting positively to its March
quarter results. Its March quarter operating profit rose 16 percent to Rs 1850
crore while net interest income grew 9 percent to Rs 1574 crore.
Maruti Suzuki stock down on weak
sales
Shares of Maruti Suzuki
India was down 1% after reporting 11.4% year-on-year decline in volumes at
86,196 units during the month of April
