India Movers: HDFC AMC, Infosys, Mahindra & Mahindra, TCS, Tata Consumer Products, Tata Power

Arun Goswami
12 Jan, 2024
Mumbai

Stocks in Mumbai advanced after TCS and Infosys reported quarterly results that met or surpassed market expectations. 

The Sensex index increased 570.02 points to 71,925.24, and the Nifty index rose 176.65 points to 21,688.75.

On the Mumbai stock exchange, 437 stocks traded at their 52-week highs and 6 stocks traded at their 52-week lows.

Infosys gained 7.1% to ₹1,600.80 after the company reported better-than-expected quarterly results.

Revenue in the quarter increased 1.2% to ₹38,821 crore from ₹38,318 crore and net income fell 7.3% to ₹6,106 crore from 6,506 crore, and diluted earnings per share decreased to ₹14.74 from ₹15.70 a year ago. 

Tata Consultancy Services advanced 3.8% to ₹3,883.0 after the company reported stronger-than-expected quarterly results.

Revenue in the quarter increased to ₹61,445 core from ₹58,749 crore, profit after-tax rose 2% to ₹11,097 crore from ₹10,883 crore, and diluted earnings per share advanced to ₹30.29 from ₹29.74 a year ago. 

Tata Power Company increased 0.8% to ₹360.30 after the company signed a preliminary contract with Gujarat State to develop 10 GW of renewable energy power projects with an investment of up to ₹70,000 crore.

Mahindra & Mahindra decreased 1.4% to ₹1,606.20, and the company said it plans to invest ₹630 crore in Mahindra Electric Automotive Ltd. through the subscription of the upcoming rights issue.

HG Infra Engineering rose 3.5% to ₹916.10 after the company won a 716 crore project from Central Railways.

Tata Consumer Products added 2% to ₹1,141.75 after the company is in advanced talks to acquire Organic India, backed by Fabindia and Capital Foods. 

HDFC Asset Management Company decreased 2.2% to ₹3,423.40 after the company reported December quarter profit soared 32% to ₹489.7 crore. 

Revenue in the quarter increased to 813.8 crore from 662.9 crore, profit after tax advanced to ₹489.7 crore from ₹369.4 crore, and diluted earnings per share rose to ₹22.91 from ₹17.31 a year ago. 

Arvind Ltd increased 2.4% to ₹290.65 after the company said it signed a preliminary agreement to supply advanced uniform fabric to the Indian Navy.