Select auto shares in spotlight after September sales figures

Bajaj Auto reported 2% rise in total sales to 3.67 lakh units in September 2013 over September 2012. Total motorcycle sales rose 3% to 3.23 lakh units, while total commercial vehicles sales declined 2% to 43,936 units in September 2013 over September 2012. Total exports rose 10% to 1.46 lakh units during the period under review. It was the highest ever export figure in any September.

Tata Motors' said after market hours on Tuesday, 1 October 2013 that total sales (including exports) of Tata commercial and passenger vehicles in September 2013 were 50,427 vehicles. The company's domestic sales of Tata commercial and passenger vehicles for September 2013 were 45,998 units. The company's sales of commercial vehicles in September 2013 in the domestic market were 33,119 units, LCV sales were 24,304 units, while M&HCV sales stood at 8,815 units. Sales of passenger vehicles for September 2013 were at 12,879 units. Sales of the Nano/ Indica/ Indigo range in September 2013 were 9,766 units. The Sumo/ Safari/ Aria/ Venture range sales were 3,113 vehicles. The company's sales from exports were 4,429 units in September 2013.

Ashok Leyland reported a 32% decline in total sales to 7,232 units in September 2013 over September 2012. The company witnessed a 38% decline (excluding its small commercial vehicle DOST) in commercial vehicle sales to 4,715 units in September 2013 over September 2012. Sales of DOST declined by 17% to 2,517 units in September 2013 over September 2012.

Separately, Ashok Leyland announced that it offloaded its US-based testing and engineering company Defiance Testing & Engineering Services (DTE) to Exova. The company however did not disclose value of the transaction. The acquiring company, Exova is into testing, calibration and advisory services. Commenting on the sale, V Sumantran, vice chairman, Ashok Leyland, said "It is reflective of Ashok Leyland's dynamic shift in strategic priorities aimed at enhancing the value of its business in the medium term."

The National Stock Exchange of India (NSE) will include Glenmark Pharmaceuticals, GlaxoSmithkline Consumer Healthcare and United Breweries in the futures and options (F&O) segment from today, 3 October 2013.

MOIL said the prices of each grade of manganese ore, except for Mn 25% grade, has been increased for the October-December 2013 quarter by 5% over the prices for July-September 2013 quarter. The prices of Mn 25% grade and EMD have been increased by 10%.

Coal India said after market hours on Tuesday, 1 October 2013, that the company and its subsidiaries achieved 99% of targeted production at 33.16 million tonnes in September 2013. It achieved 103% of targeted offtake at 35.79 million tonnes in September 2013.

Sun Pharmaceutical Industries through its subsidiary, and Intrexon Corporation, a leader in synthetic biology, announced the formation of a joint venture to develop controllable gene-based therapies for the treatment of ocular diseases that cause partial or total blindness in millions of people worldwide. Initial targets are dry age-related macular degeneration (AMD), glaucoma and retinitis pigmentosa. The joint venture will leverage Sun Pharma's global capabilities and experience in developing and manufacturing complex dosage forms and specialty pharmaceuticals for niche therapy areas. Intrexon and Sun Pharma will share in both the financing of, and the revenues from, the joint venture.

Through an Exclusive Channel Collaboration (ECC), the joint venture will have access to Intrexon's full suite of proprietary synthetic biology technologies, including the RheoSwitch Therapeutic System (RTS) platform. RTS is a clinically validated method for controlling the location, concentration and timing of protein expression. RTS may address a long-standing limitation of current approaches by enabling patients to receive a targeted biologic therapy without having to endure a lifetime of injections. In addition to the initial targets, the companies intend to further expand the future pipeline of targeted ocular diseases to potentially include wet AMD, macular edema, non-infectious uveitis and diabetic retinopathy.

MCX clarified that its stake in Dubai Gold and Commodity Exchange (DGCX) got diluted from 5% to 3.4% of the paid capital of DGCX in July 2013 due to a rights issue made by DGCX. Except for the change in shareholding percentage for MCX, there has been no other change for MCX.

Tata Communications said it launched its mobile messaging exchange service. The exchange will enable over-the-top (OTT) providers and SMS aggregators to connect to a large community of MNOs globally, while allowing MNOs to monetise the SMS traffic with an added layer of security. This service provides a mutually favourable and profitable solution for all the stakeholders in the value chain, the company said in a statement.

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