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The BSE-Sensex is trading up 131 points (up 0.5%) and the NSE- Nifty is trading up 37 points (up 0.5%). The BSE Mid Cap index is trading up by 0.4% while the BSE Small Cap index is trading up 0.7%. The rupee is trading at 65.45 to the US$.
As per an article in Business Standard, Greaves Cotton Ltd has announced its results for the quarter ended September 30, 2015. The company during the quarter has posted a robust 91% increase in its net profit at Rs 522 million on a YoY (year-on-year) basis. The company's EBITDA margin stood at Rs 758 million, an increase of 35% YoY.
The company stated that revenue growth is still a concern and has been affected on account of weak market conditions. However, besides that, the company has started various operational excellence initiatives that have started yielding results and have reflected in the EBITDA margin improvements.
Greaves Cotton Ltd is one of the leading engineering companies in India. The company manufactures a wide range of industrial products to meet the requirement of core sectors in India and abroad. The company had recently launched a new range of farm equipment products under its 'SWAMPURNA SWADEHI' program. The two products launched under this were Mini Power Tiller (7 HP) and Paddy Weeder. The stock of Greaves Cotton is trading lower by 1.1% on the BSE.
Stocks in the automobile space are trading firm with TVS Motors and Maharashtra Scooters witnessing maximum buying interest. TVS Motor has reported 14% increase in total sales during the month of October on a YoY basis. Two-wheeler sales for the month grew 14% YoY to 2,64,112 units. Motorcycle sales for the concerned period increased 17% YoY to 1,06,175 units. Scooter sales grew 30% YoY to 91,430 units. Furthermore, three wheeler sales of the company registered an increase of 16%, growing from 9,054 units in the month of October 2014 to 10,510 units in the month of October 2015.
Exports for the month witnessed a surge of 20% YoY at 41,682 units. Two-wheeler exports grew by 18% with sales increasing from 27,696 units in the month of October 2014 to 32,621 units in the month of October 2015.
TVS Motor is the third largest two-wheeler manufacturer in India. The company manufactures a wide range of two-wheelers from mopeds to racing inspired motorcycles.
The auto industry, at present, is witnessing a fillip on the back of the festive season. Also, the new launches by various auto majors, which have received an encouraging response, have aided this boost.
Presently, the stock of TVS Motor is trading higher by 4.7%.
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