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This strategic move of raising prices could potentially negatively impact CEAT's market share, analysts at Kotak said in recent note.
In the UV segment, M&M sold 41,008 vehicles in the domestic market, marking a growth of 18% YoY
Commercial vehicle sales rose by 7 percent on year to 46,467 units, with exports clocking a notable rise in April.
Indian equities, led by Reliance Industries, showed gains. Various sectors surged, with expectations of steady Fed rates in May 2024. Trent rises over 6% post solid Q4 results.
Nifty 50 closes April with 1.24% gain, led by strong banking and auto sectors. IT pack sees losses for the second consecutive month. Nifty Bank, Nifty Realty, Nifty Metal, Nifty Auto indices reach new record highs in April.