India Movers: CEAT, CanFin Homes, Ganesh Housing, Hindustan Unilever, ICICI Bank, IDBI Bank, Kotak Mahindra, Reliance Industries

Arjun Pandit
22 Jan, 2024
Mumbai

Stocks in Mumbai traded higher on Saturday and banks were in focus after reporting positive results. 

The Sensex index increased 236.79 points to 71,423.65, and the Nifty index rose 109.55 points to 21,571.80.

On the Mumbai stock exchange, 474 stocks traded at their 52-week highs and 9 stocks traded at their 52-week lows.

Reliance Industries declined 0.7% to ₹2,716.0 after the diversified conglomerate reported weaker-than-expected quarterly results. 

Revenue in the December quarter rose 3.9% to ₹2.25 lakh crore and net income soared 9.3% to ₹17,265 crore. 

CanFin Homes declined 1.7% to ₹768.90 after the housing financing company reported quarterly results.

Revenue in the December quarter soared 27.1% to ₹901.93 crore, and net income advanced 32% to ₹200.1 crore from ₹151.5 crore a year ago.

IDBI Bank soared 12.2% to ₹77.70 after the company reported quarterly results.

Revenue in the December quarter increased 23.4% to ₹7,514.3 crore, and net income jumped 57.3% to ₹1,458.2 crore from ₹927.3 crore a year ago.

Kotak Mahindra Bank gained 1.8% to ₹1,810.0 after the company reported quarterly results.

Net interest income on a standalone basis rose 15.9% to ₹6.554 crore, and net profit soared 7.6% to ₹3,005 crore.

The net interest margin was unchanged at 5.2% from the previous quarter.

CEAT Ltd. soared 14.1% to ₹2,889.0 after the tire maker launched steel radial tires for two-wheeler vehicles.

The company plans to sell premium tires in the aftermarket and to original equipment makers.

Hindustan Unilever dropped 3% to ₹2,470.0 after the consumer products maker reported weaker-than-expected quarterly results. 

Revenue in the December quarter decreased 0.3% to ₹15,294 crore and consolidated net income inched higher 1.4% to ₹2,509 crore from ₹2,474 crore a year ago. 

Ganesh Housing soared 29.3% to ₹663.60 after the Amdavad-focused real estate company reported a sharp jump in quarterly earnings and revenue. 

Revenue in the December quarter soared 172% to 1,833 crore and net income advanced 232% to 100.60 crore. 

The debt-free company plans to develop several residential projects in the 500 acres held by the company in greater Amdavad region.   

ICICI Bank rose 2.5% to ₹1,011.50 after the financial services provider was in focus ahead of the company's quarterly results later today.