·Cigarette shares drop on excise duty hike
Shares of ITC dropped 4% at Rs346 on NSE, extending its previous day’s 8% fall, after the Finance Minister Arun Jaitley proposed raising taxes on cigarettes.The stock opened at Rs358.50 and touched a low of Rs345.65 on NSE. In his budget proposals, Jaitley raised excise duty on cigarettes by 25% for cigarettes of length not exceeding 65 mm, and by 15% for cigarettes of other lengths.
·Petrol, diesel prices hiked by Rs3.18 and Rs3.09 per litre
Petrol and diesel prices are hiked by Rs3.18 and Rs3.09 per litre respectively for petrol and diesel. Oil marketing companies has also hiked price of Jet fuel price hiked by 8.2% while the rates of non-subsidized LPG was increased by Rs5 per cylinder on firming international oil rates. Positive for BPCL,HPCL,IOC
·Escorts tractor sales dip 25% in February
Escorts reported 25.56% dip in tractor sales at 3,444 units in February. The company had sold 4,627 tractors in February 2014, Escorts said in a statement. The company's domestic tractor sales stood at 3,318 units last month as against 4,581 units in February 2014.Tractor exports during the period under review stood at 126 units as against 46 units in February 2014.
·JBM Auto secures order for 200 buses
JBM Auto announced that the Bus division of the Company has received orders for 200 Buses. The orders constitute buses for City, Staff, School, and Tarmac applications.
·Government is re-examining auction of coal blocks
The government is re-examining auction of coal blocks, bagged by Balco, JSPL and BS Ispat, on some complaints including bidding price – The stocks like JSPL might see some pressure due to this development.
·Jet Airways, SpiceJet fall on hike in ATF prices
Shares of airline companies dropped 4-5% lower in early trades after oil marketing companies raised price of aviation turbine fuel by 8.2%, the first such hike since last July. In Delhi, the price of aviation turbine fuel was raised to Rs50,363 per kilolitre from Rs46,513 per kilolitre effective from Saturday midnight. Aviation turbine fuel accounts for about 40% of the airline's operating expenses.
·Atul Auto registers sales of 3,402 vehicles in Feb 2015
Atul Auto reported sale of 3,402 no. of vehicles in February 2015 compared to 3,105 vehicles in February 2014, registering a growth rate of 9.57%.Total sales for the period April 2014 to February 2015 stood at 38,376 no. of vehicles compared to 34,343 vehicles in the corresponding period of the previous year, an increase of 11.74%.
·Dr. Datsons inks deal with Yemen's to sell its drugs
Dr.Datsons Labs and AL-MUGDH PHARMA of Yemen have signed a licensing, distribution and supply deal, under which the distribution company will market Anti-Malaria Drugs. The estimated order for the Yemen is to the tune of Rs80 crore.
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