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Tata Motors and Ambuja Cements also closed on a weak note. SAIL, BPCL, Power Grid, ABB, Suzlon Energy and Unitech were among the prominent losers from the Nifty index.
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Suppliers of parts to the Nano have apparently apprised Tata Belstaff Xl500 Jacket Motors of the cost-pressures on steel, which they are finding difficult to bear.
While Kant did not comment on this, he said that vehicle manufacturers and suppliers had to share the pain as both have been hit very badly. He added that companies would try to insulate the consumer to the maximum length possible, but beyond that the cost must be passed on.
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Cairn India shot up by Nike Shox Rivalry Uk 7.6% to Rs 278.50 on strong volumes. On the National Stock Exchange, the Cairn India counter clocked a volume of 18.7 million shares today.
UCO Bank has gained 5.8% at Rs 46.75. Allahabad Bank has surged 5.75% to Rs 92.05 on strong quarterly numbers. GTL Infrastructure, Jai Corp, Reliance Industrial Infrastructure, Essar Shipping, Godrej Industries, Kotak Bank, Andhra Bank, Spice Telecom and GVK Power are up by 4% - Air Force 1 Nike 6%.
Sun TV Network, JP Hydropower, Financial Technologies, Hindustan Construction Company, Unitech, Welspun Gujarat Nike Running Shoes Uk and Dish TV have also posted impressive gains.SEARCH