India Movers: BHEL, HDFC Bank, ICICI Prudential, LTIMindtree, Nazara Technologies, Oracle Financial, Zaggle

Arun Goswami
18 Jan, 2024
Mumbai

Stocks in Mumbai edged lower for the second day in a row as investors confronted mixed quarterly results and elevated geopolitical tensions in the Middle East.

The Sensex index decreased 396.62 points to 71,104.14, and the Nifty index fell 132.25 points to 21,439.70.

On the Mumbai stock exchange, 194 stocks traded at their 52-week highs and 18 stocks traded at their 52-week lows.

HDFC Bank declined 3.5% to ₹1,499.50 and extended two-day losses to close to 10% after the largest private bank reported only a slight gain in its quarterly profit.

ICICI Prudential dropped 6.2% to ₹483.30 after the insurance company said quarterly profit rose less than 3%.

Premium income in the December quarter increased to ₹9,929 crore from ₹9,465 crore, and net income rose to ₹227 crore from ₹221 crore a year ago.

Assets under management rose to ₹2.87 lakh crore from ₹2.52 lakh crore in the previous year's quarter.

Oracle Financial Services soared 19% to ₹6,069.95 after the database provider reported a surge in revenue and profit in its latest quarter.

Revenue in the December quarter jumped 26% to ₹1,823.6, and net income soared 69% to ₹740.8 crore.

Bharat Electronics decreased 0.8% to ₹184.05 in a weak market, and the company said it received two orders worth ₹1,034.3 core.

Nazara Technologies declined 2.9% to ₹909.0, and the online education games maker said it plans to raise ₹250 crore through a secondary stock offering.

LTIMindtree dropped 11.6% to ₹5,564.95 after the company reported weaker-than-expected quarterly results.

Revenue in the December quarter rose 4.6% from a year ago to ₹9,017 crore, and net income advanced to 16.8% from a year ago to ₹1,169 crore.

Zaggle Prepaid Ocean Services increased 1.9% to ₹212.50, and the recently listed expense management software developer signed a ₹200 core contract with Torrent Gas.