Wednesday, 31 January 2018

Sensex Opens Lower, Nifty Holds 11,000; IOC, Bharti Airtel Gain

Shares of Indian Oil Corporation gained 3 percent intraday on Wednesday as investors cheered the company’s stellar financial results for the December quarter.

The oil marketing company’s third quarter earnings beat analyst expectations on Monday as standalone profit during the quarter more than doubled to Rs 7,883 crore, from Rs 3,696.3 crore in previous quarter.

The bottomline was far ahead of CNBC-TV18 poll of Rs 5,222 crore for the quarter.

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Asia Stocks Eased On Wednesday, Pulling Further Back From Record Highs

Asia stocks eased on Wednesday, pulling further back from record highs, as the recent rise in global bond yields weighed on equities.

MSCI's broadest index of Asia-Pacific shares outside Japan added to the previous day's losses and dipped 0.1 percent, after reaching a record high on Monday.

Australian stocks shed 0.4 percent, South Korea's KOSPI lost 0.3 percent and Japan's Nikkei dropped 0.3 percent.

US stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop since September 2016, pressured by healthcare stocks and rising bond yields.

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Tuesday, 30 January 2018

TVS Motor Has Registered A 15 Percent Volume Growth Led

TVS Motor has registered a 15 percent volume growth led by strong rise in scooters and three-wheeler.

The company sold 8.26 lakh units in quarter gone by, against 7.18 lakh units sold in corresponding quarter.

Domestic volumes rose 10.5 percent YoY to 6.85 lakh units from 6.20 lakh units and export volumes climbed 41 percent to 1.40 lakh units from 98,657 units.

Motorcycle sales volumes in Q3 increased 27 percent year-on-year to 3.14 lakh units, from 2.47 lakh units; and scooter volumes jumped 21 percent to 2.69 lakh units from 2.21 lakh units.

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The Stock Gained Around Rs 316 In The Opening Tick, Making It A Gain

Shares of market debutant, Amber Enterprises listed at Rs 1,175, a gain of 37 percent to the issue price of Rs 859 on the National Stock Exchange.

The stock gained around Rs 316 in the opening tick, making it a gain of 36.79 percent.

The appliance maker had a very successful initial public offering, registering a subscription of 165 times. It had sought to raise Rs 600 crore through the issue, which opened on January 17 with a price band of Rs 855-859 apiece.

The air conditioner manufacturer’s IPO received bids for 81.47 crore shares against an issue size of 49 .27 lakh, as per data available with the NSE website.

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Monday, 29 January 2018

Dr Reddy's Labs Fell 4 Percent As JM Financial Maintained

Dr Reddy's Labs fell 4 percent as JM Financial maintained its sell rating on the stock post earnings.

Adjusting for the many one-offs, Q3FY18 was a soft quarter for Dr Reddy’s. Revenues grew 7 percent QoQ to Rs 3,806 crore largely on account of a one-time milestone income of Rs 130 crore (related to the USFDA NDA approval of IMPOYZ; recently outlicensed to Encore Dermatology) booked under proprietary products.

Adjusting for this milestone income and the US DoJ litigation settlement charges (Rs 31.9 crore), EBITDA margin declined 52bps QoQ to 18.2 percent due to higher price erosion (in low double digits) in base business and adverse forex impact (4 percent depreciation of USD), translating into adjusted EBITDA declining 22 percent YoY to Rs 636.7 crore.

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Thursday, 25 January 2018

Bharat Electronics Gained Nearly 3 Percent As Board Will Consider Buyback

Shares of Bharat Electronics gained nearly 3 percent as board will consider buyback of equity shares.

A meeting of the board of directors of the company is scheduled to be held on January 30, to consider and approve, unaudited standalone financial results for the quarter and nine months ended December 31, 2017.

The board will also consider declaration of interim dividend for the financial year 2017-18.

At the said board meeting, the proposal for buyback of the fully paid-up equity shares of the company of face value of Re 1 each will also be considered by the board.

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Benchmark Indices Continue To Be Rangebound In Morning

Benchmark indices continue to be rangebound in morning, with the Nifty trading in a range of 11,050-11,100 levels ahead of expiry of January futures & options contracts.

The 30-share BSE Sensex was down 27.75 points at 36,133.89 and the 50-share NSE Nifty fell 3.10 points to 11,082.90.

Nifty Midcap index gained 0.4 percent. About 1,140 shares advanced against 942 declining shares on the BSE.

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Wednesday, 24 January 2018

Idea Cellular Likely To Widen Net Loss To Rs 1,292 Crore In December Quarter

Idea Cellular, which is scheduled to report its results for the quarter ended December on Wednesday could report a net loss of Rs 1,292 crore compared to Rs 1,106 crore reported in the previous quarter, according to a poll conducted by CNBC-TV18.

According to estimates, the telecom major is expected to report 10 percent fall in revenues for the quarter ended December to Rs 6,738 crore compared to Rs 7,465 crore reported in the previous quarter, weighed down by interconnection usage charges cut by TRAI and sharp fall in realisations.

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Sensex, Nifty Turn Choppy Post Flat Opening; United Spirits Down 5%

Share price of JMC Projects rose 7.6 percent in the early trade on Wednesday on the back of orders worth of Rs 751 crore.

The order includes, two commercial projects and a residential project in South India totalling Rs 448 crore.

Also, two residential projects and one industrial project in Northern and Eastern India totalling Rs 303 crore.

S. K. Tripathi, CEO & Dy. Managing Director of JMC Projects said, "We continue to build on our solid base in South India with success in the EPC contracts for these projects."

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Tuesday, 23 January 2018

Bharti Airtel Will Be Absorbing Around Two-Third Employees Of Telenor India

Bharti Airtel will be absorbing around two-third employees of Telenor India and Tata Teleservices' consumer mobility business after merger with both companies, according to a report by The Economic Times.

The report adds that the Sunil Mittal-led telecom company may post about 15 percent of the employees from the two telcos overseas, including Africa.

An Airtel spokesperson told the newspaper: "It is inevitable in a post-merger scenario that all employees will not find meaningful roles and accordingly, will be provided complete support to deal with such an outcome. An exercise is under way to map the employee pool to the post-merger requirements."

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Shares Of Axis Bank Gained 2 Percent Intraday On Tuesday As Investors Cheered

Shares of Axis Bank gained 2 percent intraday on Tuesday as investors cheered the bank’s December quarter financial performance.

The bank’s earnings beat analyst expectations, with improvement in asset quality performance.

Profit during the quarter grew by 25.3 percent year-on-year to Rs 726.4 crore despite fall in other income & operating income, driven by lower provisions and higher net interest income.

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Friday, 19 January 2018

Shares Of Adani Ports Gained Over 3.5 Percent Intraday As Investors Reacted

Shares of Adani Ports gained over 3.5 percent intraday as investors reacted positively to the December quarter performance.

The company reported a 19.51 percent jump in its consolidated profit at Rs 1,001 crore for the third quarter ended December 31, 2017. The logistics arm of Adani Group had clocked a consolidated profit of Rs 837.58 crore in the corresponding period last fiscal, it said in a BSE filing.

Brokerages were upbeat on the stock and believed that the stock was well placed for better moves ahead.

While maintaining Buy rating with target price of Rs 575, Citi said that the firm is one of our top picks in India infrastructure/logistics. Further, it said that the company reported well-rounded and strong third quarter earnings.

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Tata Steel Announced A Successful Dual Tranche Reg S Issuance Of USD

Tata Steel announced a successful dual tranche Reg S issuance of USD 1.3 billion of unsecured bonds in the international markets.

The issue comprises USD 300 million 4.45% unsecured bonds due on July 24, 2023 and USD 1 billion 5.45% unsecured bonds due on January 24, 2028 by Abja Investment Co Pte Ltd, a wholly owned subsidiary of Tata Steel incorporated in Singapore.

The bonds are rated BB- by S&P and will be listed on the Singapore Exchange.

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Thursday, 18 January 2018

Tata Sponge Iron Reported An Over Three-Fold Jump In Its Consolidated Net Profit

Tata Sponge Iron reported an over three-fold jump in its consolidated net profit at Rs 36 crore for the December 2017 quarter. Its revenue from sponge iron segment rose to Rs 199.30 crore from Rs 145.56 crore.

Talking about the company’s third quarter performance and the outlook going forward, Sanjay Pattnaik, MD, Tata Sponge said the company was on track to meet their FY18 sales guidance of 4.1 lakh tonnes.

He said for the third quarter they had volume growth of 22 percent and sales growth of 25 percent. The Q3FY18 sales volumes were at 1.09 lakh tonnes.

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Wednesday, 17 January 2018

Stocks In The News: Reliance Industries, Sun Pharma, TCS, Gail, BSE, Bajaj Finance, MCX

Sun Pharma
Sun Pharmaceutical Industries on Tuesday announced that its wholly owned subsidiaries have reached an agreement with Ironwood Pharmaceuticals, Inc. and Allergan plc to resolve the patent litigation.

ICICI Lombard

Leading private general insurer ICICI Lombard today reported a 5.20 percent year-on-year increase in net profit at Rs 231.76 crore for the December quarter.

Reliance Nippon
Reliance Nippon Life Asset Management reported 25 percent jump in profit after tax to Rs 130 crore for the December quarter of the current fiscal.

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Amber Enterprises, Which Raised Rs 179 Crore From Anchor Investors

Amber Enterprises, which raised Rs 179 crore from anchor investors yesterday, has opened its initial public offering for subscription.

Benchmark indices extended gains in morning, with the Sensex rising 102.33 points to 34,873.38 and the Nifty trading 22.70 points higher at 10,723.20.

The broader markets recovered from day's lows but still trading lower. The Nifty Midcap was down half a percent as about three shares declined for every share rising.

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Tuesday, 16 January 2018

The Rupee Extended Losses In Late Morning Trade

The rupee extended losses in late morning trade, dropping by 21 paise to 63.70 against the greenback in late morning deals on sustained dollar demand from importers and banks amid widening trade deficit.

The rupee came under pressure as trade deficit widened to three-year high at USD 14.88 billion in December,government data showed yesterday, imports surged nearly 21.1 per cent year-on-year to USD 41.90 billion last month while exports grew 12.4 per cent on-year to USD 27.03 billion.

The rupee opened lower at 63.60 per dollar from yesterday's closing level of 63.49 at the inter-bank foreign exchange today.

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Monday, 15 January 2018

Shares Of HDFC Gained Around 2 Percent Intraday On Monday

Shares of HDFC gained around 2 percent intraday on Monday as investors cheered the NBFC’s fundraising plan.

Over the weekend, it announced that the Board had approved fund raising worth Rs 11,301 crore by issuing 6.43 crore shares at Rs 1,726.05 per share to investors, including global private equity biggie GIC Singapore, KKR and Premji Invest.

Housing Development Finance Corporation or HDFC's committee of directors in a meeting held on Saturday approved to the "issuance of 6,43,29,882 equity shares if Rs 2 each of the Corporation on a preferential basis", HDFC said in a release to the stock exchanges on Saturday.

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ICICI Bank And Tata Steel Are The Top Gainers On Both Indices

Shares have extended their gains from the opening tick, with the Sensex gaining over 200 points, while the Nifty is eyeing 10,750-mark.

The Sensex is up 240.43 points or 0.70% at 34832.82, while the Nifty is up 65.00 points or 0.61% at 10746.30. The market breadth is positive as 1,715 shares advanced, against a decline of 574 shares, while 256 shares were unchanged.

ICICI Bank and Tata Steel are the top gainers on both indices, while IndusInd Bank, ONGC and Eicher Motors lost the most.

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Friday, 12 January 2018

TCS Falls On Profit Booking; UBS, Deutsche See Stock At Rs 3,000 In Next 1 Year

Tata Consultancy Services shares fell as much as 1.6 percent in morning Friday despite bagging of USD 2 billion order in US. It was in addition to 0.7 percent loss in previous session following nearly 4 percent rally on Wednesday.

The further correction was largely because of profit booking as third quarter numbers came in line following which analysts retained their ratings.

At 09:42 hours IST, the stock price was quoting at Rs 2,760.20, down Rs 28.20, or 1.01 percent on the BSE.

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IndusInd Bank Rises 1% Post Q3 Show; Brokerages Remain Upbeat

IndusInd Bank’s shares rose over 1 percent intraday on Friday as investors cheered the bank’s positive result trends for the December quarter.

The private sector lender reported nearly 25 percent growth in profit at Rs 936.2 crore for quarter ended December 2017 YoY, which was largely in line with estimates, but asset quality weakened a bit sequentially.

Profit in year-ago quarter had reported at Rs 750.64 crore by the bank. Other income, operating income and NII boosted profitability.

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Thursday, 11 January 2018

Bharti Airtel Has Added 43 Lakh Users In November While Reliance Jio

Bharti Airtel has added 43 lakh users in November while Reliance Jio, the part of Reliance Industries, added 61.2 lakh users in same month.

Idea Cellular and Vodafone, which are going to merge in current year, added 32 lakh and 27 lakh users in November.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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IndusInd Bank Is The Second Private Sector Lender To Announce Third Quarter Earnings On Thursday

IndusInd Bank is the second private sector lender to announce third quarter earnings on Thursday. Profit is expected to increase 24.1 percent to Rs 931.5 crore for the quarter ended December 2017.

The bank had reported net income at Rs 750.6 crore in year-ago quarter. Net interest income, the difference between interest earned and interest expended, is seen growing 22 percent to Rs 1,926.1 crore from Rs 1,578.4 crore year-on-year, according to average of estimates of analysts polled by CNBC-TV18.

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Tuesday, 9 January 2018

Benchmark As Well As Broader Indices Turned Volatile After Hitting Record Highs

Benchmark as well as broader indices turned volatile after hitting record highs in opening as investors await December quarter earnings season that will be kicked off by TCS, Infosys and IndusInd Bank later this week.

The 30-share BSE Sensex was up 28.45 points at 34,381.24 while the 50-share NSE Nifty fell 8.40 points to 10,615.20.

About 1,157 shares declined against 998 advancing shares on the BSE. Coal India extended gains to 7 percent in morning on revision in non-coking coal prices.

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Sensex, Nifty, Midcap Off Record Highs; Coal India Extends Gains

Share price of Coal India added more than 5 percent in the early trade as the company has revised non-coking coal prices.

The company is it meeting held on January 8 has approved revision of non-coking coal prices effective from January 9.

The revised prices would be applicable to all subsidiaries of Coal India including NEC.

Due to the revision, the company will earn an approximately incremental revenue of Rs 1,965 crore for the balance period of financial year 2017-18.

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Monday, 8 January 2018

Sensex, Nifty Hold Steady Around Day’s High; Midcaps Outperform

The market has held on to its morning gains, with benchmarks trading above key milestones.

At 11:21 hrs IST, the Sensex is up 202.76 points or 0.59 percent at 34356.61, and the Nifty up 59.00 points or 0.56 percent at 10617.90. The market breadth is positive as 1719 shares have advanced, while 865 shares have declined, and 385 shares are unchanged.

Midcaps have continued to put up a strong show, while Sun Pharma, Infosys and Tech Mahindra gained the most. Bharti Airtel and Hindalco lost the most.

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Equity Benchmarks Extended Their Gains From The Opening Minutes

Equity benchmarks extended their gains from the opening minutes, with the Sensex gaining over 200 points, while the Nifty was up over half a percent.

At 10:17 hrs IST, the Sensex is up 202.87 points or 0.59% at 34356.72, and the Nifty up 56.60 points or 0.54% at 10615.50. The market breadth is positive as 1661 shares have advanced, against a decline of 753 shares, while 373 shares are unchanged.

Sun Pharma, Infosys and Lupin gained the most on both indices, while Bharti Airtel and Asian Paints lost the most.

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Friday, 5 January 2018

Bharat Forge Shares Gained 2 Percent In Early Trade After Strong Class

Bharat Forge shares gained 2 percent in early trade after strong Class 8 truck orders in the US.

North America Class 8 truck orders shot up 77 percent to 37,200 units in December against 21,061 units in year-ago month.

Class 8 truck orders increased 15 percent on month-on-month basis.

GM Breweries said its gross sales in Q3 increased 24 percent to Rs 434 crore and net sales grew by 21 percent to Rs 119 crore compared with year-ago.

Net profit jumped 122 percent to Rs 22 crore while EBITDA surged 113 percent to Rs 34 crore and margin expanded margin to 29 percent from 16 percent YoY.

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Sensex, Nifty Hit Fresh Record Highs; Metal Index Top Gainer

Share price of Larsen & Toubro touched a 52-week high of Rs 1,328, gaining 1 percent intraday as its subsidiary won order worth Rs 1,483 crore.

The company's wholly owned subsidiary L&T Hydrocarbon Engineering has signed an offshore contract for bassein development 3 Well Platform & Pipeline project with Oil & Natural Gas Corporation valued at approximately Rs 1,483 crore.

The contract includes 3 new wellhead platforms, 23- kilometer subsea pipeline, composite subsea power cable, clamp-on work on an existing platform and modification work on nine existing platforms in the western offshore basin in India.

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Thursday, 4 January 2018

Sensex Trades Steady, Nifty Holds 10,450; Midcaps Outperform

Share price of Allahabad Bank slipped nearly 3 percent intraday Thursday as RBI has put the company under the PCA framework.

Reserve Bank of India has placed the bank under prompt corrective action framework, consequent to the onsite inspection under the risk based supervision model carried out for the year ended March 2017, and the report issued thereof, company said in release.

The RBI inspection has revealed high net NPA and negative ROA for two consecutive years.

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Infosys CEO Salil Parekh Will Be Paid A Fixed Salary Of Rs 6.5 Crores

Infosys CEO Salil Parekh will be paid a fixed salary of Rs 6.5 crores and would be eligible for variable pay of Rs 9.75 crores at the end of the 2018-2019 fiscal year, according to a top company executive.

"Infosys CEO Salil Parekh will be paid a fixed salary of Rs 6.5 crores. He would be eligible for variable pay of Rs 9.75 crores at the end of the fiscal year," independent board member at Infosys Kiran Mazumdar Shaw told PTI here.

Former CEO Vishal Sikka earned USD 6.75 million in FY17 much to disliking of Infosys founder NR Narayana Murthy. Wipro CEO Abidali Neemuchwala is getting a bit over USD 2 million.

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Wednesday, 3 January 2018

Dr Reddy’s Laboratories Fell Over 4.5 Percent Intraday As Investors Reacted

Dr Reddy’s Laboratories fell over 4.5 percent intraday as investors reacted to the receipt of establishment inspection report.

According to a report on CNBC-TV18, an EIR has been issued to the company’s Duvvada facility. The report further states that Duvvada facility status continues to be classified as official action initiated.

In pharmaceuticals parlance, OAI means a regulatory and / or admin sanctions by the drug regulator are initiated.

The channel also reported that 13 US FDA observation details were given to the unit in February-March 2017.

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Equity Benchmarks Have Witnessed A Positive Start On Wednesday

Equity benchmarks have witnessed a positive start on Wednesday, with the Sensex rising over 100 points, while the Nifty was above 10,450-mark.

At 09:16 hrs IST, the Sensex is up 135.66 points or 0.40% at 33947.92, and the Nifty up 40.30 points or 0.39% at 10482.50. The market breadth is healthy as 601 shares have advanced against a decline of 172 shares, while 504 shares are unchanged.

Midcaps were trading in the positive zone after it fell around one percent on Tuesday.

Reliance Industries and ICICI Bank are the top gainers, while Dr Reddy’s Labs, ONGC and Aurobindo Pharma have lost the most.

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Tuesday, 2 January 2018

The Rupee Retreated From Fresh Five-Month High Level To Trade Lower By 2 Paise At 63.70

The rupee retreated from fresh five-month high level to trade lower by 2 paise at 63.70 against the US currency in early session on some dollar buying by importers and banks.

The domestic currency opened marginally up at 63.67 and jumped 6 paise to a fresh five-month high of 63.62 at the interbank foreign exchange market on dollar selling by exporters.

However, the rupee lost steam soon and retreated to a low of 63.70 at 10:20 hrs, down by 2 paise compared to previous close of 63.68 a dollar.

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Benchmark Indices Turned Volatile After Opening Rally

Benchmark indices turned volatile after opening rally, but the broader markets extended losses with the Nifty Midcap falling over half a percent.

Nifty PSU Bank was the biggest loser among sectoral indices, falling over a percent. Bank of Baroda, Union Bank, Bank of India, Allahabad Bank, Syndicate Bank, PNB, Canara Bank and SBI were down 1-2 percent.

The 30-share BSE Sensex was up 5.41 points at 33,818.16 and the 50-share NSE Nifty gained 6.20 points at 10,441.70.

About two shares declined for every share rising on the BSE.

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Monday, 1 January 2018

Sensex, Nifty Continue To Trade Flat Amid Tepid Volumes; Midcaps Maintain Uptrend

Shares of Allahabad Bank were up almost 5 percent intraday on Monday as the bank raised Rs 500 crore.

In a notification to the exchanges, the bank said that it raised the money through private placement of Additional Tier 1 perpetual bonds.

The fund raising has been done in a bid to comply with global banking standards under Basel – III norms.

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The Country's Largest Car Maker Maruti Suzuki India Today Reported 10.3% Increase

The country's largest car maker Maruti Suzuki India today reported 10.3 per cent increase in total sales at 1,30,066 units in December 2017 compared to 1,17,908 units in the same month of 2016.

The company's domestic sales stood at 1,19,286 units, up 12.1 per cent from 1,06,414 units in December 2016, MSI said in a statement.

Sales of mini segment cars, including Alto and WagonR, witnessed a 2 per cent rise to 32,146 units during the month under review from 31,527 units in December 2016.

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