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Indian share markets remain in red
Wed, 24 Jul 11:30 am

Indian share markets have remained in red in the last two hours of trade. IT is the only sector witnessing net buying interest while all others are languishing in red.

The BSE-Sensex is down by 257 points and NSE-Nifty is down by 105 points. BSE Mid Cap and BSE Small Cap indices are down by 1.7% and 1.2% respectively. The rupee is trading at 59.48 to the US dollar.

All except four engineering shares, Shanthi Gears, AIA Engineering, Bharat Bijlee and Atlas Copco are trading in red with Opto Circuits and Finolex Cables leading the losses. Blue Star has reported its results for first quarter ended June 30, 2013. The Company has seen a 10.9% rise in its net profit after tax at Rs 227.7 m for the quarter as compared to Rs 205.4 m for the same quarter in the previous year. Total income from operations of the Company has increased by 5.4% at Rs 7708.2 m for the quarter under review as compared to Rs 7314.2 m for the quarter ended June 30, 2012.

Blue Star is India's leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers. The Company has six manufacturing facilities located at Thane, Bharuch, Dadra, Himachal and Wada. Its share is trading down by 1.6%

All automobile shares except Eicher Motor are trading in red with Maruti Suzuki and Escorts leading the losses. According to a leading financial news medium, Jaguar Land Rover (JLR), a wholly owned subsidiary of Tata Motors is reportedly planning to launch new affordable models from 2015 under the Jaguar brand, following the success of lower cost luxury vehicles made by its sister company Land Rover. The new range will consist of compact saloon and crossover SUV - currently the fastest growing models in terms of global sales and will be available from the second half of 2015.

Luxury carmaker Jaguar has registered a 7% increase in its global sales at 33,739 units in June 2013. It has sold 6,574 Jaguar vehicles, a 34% increase from a year earlier, while Land Rover sales has risen by 2% to 27,165 units in June from a year earlier. The automaker has been able to achieve these sales in various markets, including China, North America and Asia Pacific.

Tata Motors' share is trading down by 1.1%

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