Indian benchmark indices end higher on Wednesday
Top gainers were HUL, ACC, ONGC, Bharti Infratel, Ambuja Cements, SBI, ICICI Bank, HUL, GAIL and Reliance while TCS, M&M, ITC, Hero Motocorp, Aurobindo Pharma and Dr Reddy's Labs declined.
Society of Indian Automobile Manufacturers (SIAM) in their latest report said that wholesale of automobiles slowed in June due to stock liquidation by dealers.
According to SIAM's report, the automobile industry produced a total 6,914,544 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-June 2017 as against 6,431,938 in April- June 2016, registering a growth of 7.50 percent over the same period last year.
The domestic sale of Passenger Vehicles grew by 4.38 percent in April-June 2017 over the same period last year. Within the Passenger Vehicles, Passenger Cars, Utility Vehicle and Vans grew by 3.89 percent, 7.53 percent and (-) 2.96 percent respectively in April-June 2017 over the same period last year.
The overall Commercial Vehicles segment declined by (-) 9.08 percent in April-June 2017 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 31.82 percent, while Light Commercial Vehicles grew by 7.78 percent in April-June 2017 over the same period last year.
Three Wheelers sales declined by (-) 24.75 percent in April-June 2017 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a de-growth of (-) 30.82 percent, while Goods Carrier grew by 3.68 percent in April-June 2017 over April-June 2016.
Two Wheelers sales registered a growth at 7.78 percent in April-June 2017 over April-June 2016. Within the Two Wheelers segment, Scooters and Motorcycles grew by 20.06 percent and 3.44 percent respectively, while Mopeds declined by (-) 10.92 percent in April-June 2017 over April-June 2016.
In April-June 2017, overall automobile exports grew by 13.74 percent. While Passenger Vehicles, Three Wheelers and Two Wheelers registered a growth of 13.79 percent, 24.67 percent and 14.75 percent respectively, Commercial Vehicle exports declined by (-) 34.02 percent in April-June 2017 over the same period last year.
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