India Movers: Bank of Baroda, Fiem Industries, Godrej Consumer Products, Marico, Nykaa, Sula Vineyard, Tata Steel, Titan Company

Arun Goswami
08 Jan, 2024
Mumbai

Stocks in Mumbai traded down after several companies estimated weaker-than-expected sales growth in the December quarter.

The Sensex index decreased 171.49 points to 71,822.46, and the Nifty index fell 68.80 points to 21,642.0.

On the Mumbai stock exchange, 409 stocks traded at their 52-week highs and 9 stocks traded at their 52-week lows.

Titan Company added 0.4% to ₹3,729.60 after the specialty retailer said total sales increased 22% from a year ago in the December quarter and jewelry sales rose 21%.

Tata Steel increased 0.3% to ₹134.05 after the company said steel production increased 6% from the previous quarter and the previous year in the December quarter to 5.32 million tons, or 53.2 lakh tons.

FSN E-commerce Venture, parent of Nykaa, advanced 1.8% to ₹176.45, and the company said net sales value growth in the December quarter for its beauty and personal care division was around 20%.

Godrej Consumer Products dropped 4.6% to ₹1,161.25 after the company offered a weak growth outlook in the December quarter.

Consolidated sales volume is expected to rise in the December quarter in the mid-single-digit range.

Marico declined 4.3% to ₹522.50 after the company estimated consolidated revenue in the December quarter declined in a low single-digit range from a year ago.

Narayana Hrudalaya increased 1.6% to ₹1,237.75 after the company's subsidiary received approval from the insurance regulator to launch a health insurance business in India.

Bank of Baroda declined 3.2% to ₹227.05 after the financial service company said global deposits in the December quarter rose 8.3% from a year ago, powered by a 6.3% rise in domestic deposits.

However, global deposits declined by 0.3% from the previous quarter.

Sula Vineyard soared 14.6% to ₹635.40, and the stock advanced more than 20% in two days of trading on a healthy business outlook.

Fiem Industries advanced 11.6% to ₹2,365.10 after the company said it plans to consider a bonus issue at the next board meeting on January 15.

EaseMyTrip advanced 5% to ₹43.65 after the company said it suspended flight listing and booking to the Maldives in an effort to support Prime Minister Modi's efforts to support domestic tourism to Lakshadweep.