India Movers: Angle One, Aster DM, BLS International, HDFC, Jio Financial, RVNL

Arun Goswami
16 Jan, 2024
Mumbai

Stocks in Mumbai turned lower amid rising tensions in the Middle East after Houthi rebels attacked a U.S. Navy ship in the Red Sea.

The growing attacks in the Red Sea are forcing shipping companies to divert shipments away from the Suze Canal, increasing shipment time and costs.

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

On the Mumbai stock exchange, 273 stocks traded at their 52-week highs and 7 stocks traded at their 52-week lows.

Jio Financial Services declined 3.5% to ₹256.45 after the company reported quarterly results.

Consolidated revenue in the December quarter fell 32% from the previous quarter to ₹414.3 crore, and net income declined 56% to ₹293.8 crore.

HDFC Bank declined 0.3% to ₹1,666.75 ahead of the release of the company's quarterly results.

The largest private sector bank in India is expected to show a decline in earnings of around 1.3% from the previous quarter, when it reported earnings of ₹15,976 crore.

Angle One Limited dropped 9.4% to ₹3,493.05 after the stock brokerage company reported profit in the December quarter rose 14% to ₹260 crore.

Housing finance companies were the focus after the Reserve Bank of India matched the rules for attracting customer deposits with the recently revised rules for non-bank finance companies.

LIC Housing Finance rose 0.05% to ₹578.40, and Can Fin Homes added 0.3% to ₹766.40.

Aster DM Healthcare rose 8.7% to ₹434.75 after the company said it plans to distribute the majority of the proceeds from the sale of its business in the Middle East to shareholders through a special dividend of ₹120 per share.

Khanij Bidesh India signed an agreement with Argentina-controlled CAMYEN SE to explore four lithium mining blocks in the Catamarca province.

Khanij Bidesh is a joint venture between Nalco, Hindustan Copper, and the Mineral Exploration Company.

Nalco gained 4% to ₹141.20, and Hindustan Copper jumped 2.6% to ₹266.50.

India currently imports about $3 billion of lithium, and 95% of these imports originate in China.

The government has signed a similar lithium exploration deal with Australia to diversify its lithium sourcing.

Rail Vikas Nigam jumped 3% to ₹227.10, and the company is likely to win a ₹251 crore contract to develop a power transmission project in Madhya Pradesh.

BLS International Services increased 1% to ₹395.35 after the company's UAE subsidiary agreed to acquire iData Danismanlik for 50 million euros, or ₹450 crore.

IDATA provides visa application support services in Turkey.