2nd June, 2021 Morning Brief

Market will open on a weak note today after some profit booking witnessed at higher levels. 

Results Today : Motherson Sumi Systems, MTAR Technologies, Muthoot Finance, PVR 

🎯 ITC: The company reported standalone profit at Rs 3,748.4 crore for Q4FY21 against Rs 3,797 crore in Q4FY20. Revenue jumped to Rs 13,294.66 crore from Rs 10,842.28 crore in the year-ago period.

🎯 NGL Fine Chem : The company reported consolidated profit of Rs 13.83 crore in Q4FY21 against loss of Rs 0.2 crore in Q4FY20, while revenue jumped to Rs 71.77 crore from Rs 35.44 crore YoY.

🎯 Gujarat Gas : The company reported sharp increase in its consolidated profit at Rs 350.86 crore in Q4FY21 against Rs 250.46 crore in Q4FY20. Revenue jumped to Rs 3,489.31 crore from Rs 2,722.17 crore in the corresponding quarter of the previous fiscal.

🎯 Route Mobile: The company announced an agreement with Emirates Integrated Telecommunications Company (EITC) – du, UAE's second integrated telecom service provider, by offering a turnkey solution using Route Mobile's Smart Messaging Hub. This enables du to launch a highly scalable revenue-generating messaging platform to enable A2P wholesale transit business.

🎯 Eicher Motors

Royal Enfield's Sales Fall 49% In May*

Royal Enfield, the maker of India's cult cruiser motorcycles, saw its sales fell to 27,294 units in May compared to 53,298 units it sold in April. Year-on-Year, the sales are not comparable. 

Sales of models with engine capacity up to 350 cc fell to 22,734 unit from 46,651 units in April. 

Sales of models with capacity over 350cc fell to 4,560 units from 6,737 units. 

Exports however rose by 60% to 7,221 units.

🎯 Tata Motors 

Car sales fall 40% over April*

Tata Motors Ltd.’s passenger vehicle division sold 15,181 units in May, the company said in a statement. Passenger vehicle sales fell 40% over last month. 

Year-on-year the domestic sales are not comparable because of covid led lockdown last year.

Overall Tata Motors’ domestic sales fell 38% to 24,552 units in May from 39,530 units it sold in April. 

Total domestic commercial vehicle sales fell to 11,401 units in May, compared to 16,644 units in April. 

Commercial vehicle export too fell 8% to 2,030 units.

🎯 TVS Motor Company :

Sells 1.6 lakh units in May

TVS Motor Company reported a 30.16% fall in total sales to 1,66,869 units in May over last month due to lockdowns in many states, the company said in a statement. The Chennai-based two and three-wheeler maker had sold a total of 2,38,983 units in April. Year-on-Year, the sales are not comparable because of lockdown last year.

The total two-wheeler sales during the month stood at 1,54,416 units as against 2,26,193 units last month. 

The domestic two-wheeler sales stood at 52,084 units in May Motorcycles sales fell by 6% to 1,25,188 units in May 

Total exports stood at 1,14,674 units in May up from 1,07,185 units last month. 

Three-wheeler sale stood at 12,473 units in May.