India Movers: Avalon Technology, Avenue Supermarts, Goodluck India, Man Industries, HCL Tech, Wipro

Arun Goswami
15 Jan, 2024
Mumbai

Stocks in Mumbai advanced and investors reacted to quarterly results from Wipro, HCL Technology, Infosys, TCS, and Avenue Supermarts.  

The Sensex index increased 532.73 points to 73,100.68, and the Nifty index rose 140.25 points to 22,034.90.

On the Mumbai stock exchange, 459 stocks traded at their 52-week highs and 12 stocks traded at their 52-week lows.

Tech services stocks extended gains for the second day in a row after Wipro and HCL reported mixed results but exceeded market expectations.

Infosys jumped 2% to a record intra-day high of ₹1,646.0, and TCS advanced 0.8% to ₹3,914.35.

HCL Technology advanced 2.5% to a record intra-day high of ₹1,579.60 after the company reported quarterly results.

Revenue in the December quarter rose 6.5% from a year ago to ₹28,446 crore, and net profit jumped 6.2% to ₹4,350 crore.

On a sequential basis, revenue increased 6.7% and net profit advanced 13.5%.

Wipro soared 5.9% to ₹492.85 after the company reported quarterly results that were ahead of market expectations.

Net profit in the December quarter declined 12% from a year ago and fell 1.2% from the previous quarter to ₹2,700 crore.

The company also estimated revenue in the March quarter to be between a decline of 1.5% and a rise of 0.5% based on the expectations of new client wins in 2024.

Bharat Heavy Electricals increased 1.8% to ₹200.0 after the company won an order worth ₹15,000 crore to build the Talabira Thermal Power Project from NLC India.

Avenue Supermarts gained 0.5% to ₹3,860.05 after the company reported strong quarterly results on Saturday.

Revenue in the December quarter increased 17.3% to ₹13,572.5 crore, and net profit advanced 17% to ₹690.4 crore.

Goodluck India jumped 2% to ₹1,121.40 after the company's board approved an institutional offering of up to ₹200 crore at an offering price of ₹989.40 per share, a discount of 10% from the Friday's closing price of ₹1,100.50. 

Avalon Technology advanced 3.5% to ₹560.95 after the company was awarded a strategic manufacturing partner by the Centre for Development for  Advanced Computing, an R&D arm of the Ministry of Electronics and Information Technology. 

Man Industries increased 8% to ₹364.70 after the company won new orders worth ₹400 crore, increasing its total orders to be completed in the next six months to ₹1,300 crore.