Automaker reports mixed bags sales

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⭐ Automaker reports mixed bags sales 

Maruti Suzuki’s domestic passenger vehicle (PV) sales declined by 5.7% to 1.4 lakh units in April. The company said the shortage of electronic components had some impact on the production of vehicles. Meanwhile, Tata Motors’ PV sales rose 13% YoY to 47,107 units. 

⭐ Ahluwalia Contracts bags new order

Infrastructure firm has secured a new order worth ₹2,450 crore to redevelop Chhatrapati Shivaji Maharaj Terminus (CSMT) in Mumbai. This new order comes from the Rail Land Development Authority. Meanwhile, the company’s order inflow for FY24 stands at ₹3,006 crore.

⭐ Central Bank Q4: profit rise, NPA fall

The state-owned lender, Central Bank of India, saw its March quarter net profit rise 84% YoY to ₹571 crore. Its net interest income increased by over 45% YoY to ₹3,513 crore. The gross non-performing assets or bad loans declined substantially by 640 (6.4%) basis points to 8.44%.

Global markets (at 8:30 AM today)

Fact of the day

Gross GST revenue collection rose 12% YoY in April 2023 to 1.87 lakh crore.   

Source: Economic Times