Auto stocks are trading mixed with Ashok Leyland and Escorts being the biggest gainers and TVS Motors and Maruti Suzuki being the biggest losers. As per a leading financial daily, pick-up in pre-budget demand for cars provided a huge fillip to car sales in the month of March. Maruti Suzuki registered the highest ever monthly sales of 1.1 lakh units in March. The growth has come on a 60% jump in offtake of its newly launched Dzire compact sedan and 24% rise in sales of its other compact diesel cars, Swift and Ritz. However, its annual sales in FY11 were down by 11% to 11.3 lakh units due to a three-month strike at its Manesar plant. Korean car manufacturer, Hyundai clocked a 23% jump in sales backed by robust demand for its small car EON. Even Tata Motors (Telco), Mahindra & Mahindra Ltd. (M&M) and Toyota Kirloskar recorded good sales number for the month. European car company, Volkswagen saw the highest-ever sales of its Polo hatchback as well as sedan model Vento.
Majority of the retailing stocks are trading positive with Pantaloon being the biggest gainer. As per a leading financial daily, Titan Industries has commenced commercial production in the jewellery unit set up in the excise-free zone in Pantanagar, Uttarakhand. The integrated state of the art jewellery unit has been set up at a cost of around Rs 150 m. Titan Industries will manufacture studded jewellery in the plant and hopes to achieve a turnover of Rs 2.5 bn in the financial year 2012-13. Reportedly, the company had received government approval for direct gold imports which are expected to result in input cost savings for the company. The stock is up 1.8%.