India Movers: Central Bank of India, Cipla, Colgate, Coforge, MRPL, Oberoi Realty, Tamilnad Mercantile, Zee Ent

Arun Goswami
23 Jan, 2024
Mumbai

Benchmark indexes in Mumbai traded higher, and travel stocks were the focus after Pran Pratishtha in Ram Mandir.

The Sensex index increased 584.75 points to 72,008.40, and the Nifty index rose 166.55 points to 21,738.35.

On the Mumbai stock exchange, 297 stocks traded at their 52-week highs and 10 stocks traded at their 52-week lows.

Zee Entertainment dropped 10% to ₹208.30 after Sony Pictures Network India terminated its plan to acquire the company for $10 billion.

Sony also demanded $90 million, or about ₹750 crore, in termination fees from the company.

Central Bank of India declined 0.8% to ₹55.80, and the bank proposed for the government to lower its stake through a sale to improve stock trading liquidity.

The central government bank currently holds about a 93% stake in the bank after the government pumped about 19,903 crore over the four-year period between fiscal years 2018 and 2021, according to data available from the CRISIL rating agency.

Cipla Ltd. increased 6.6% to ₹1,403.20 after the pharmaceutical company reported quarterly results.

Revenue in the December quarter jumped 13% to 6,505 crore, and net income advanced 32% to 1,055.90 crore from a year ago, respectively.

Oberoi Realty decreased 8.4% to ₹1,378.75 after the company reported a decline in revenue and earnings in its latest quarterly results.

Revenue in the December quarter decreased 12.9% to 1,082.9 crore and net profit declined 21% to 360 crore from a year ago, respectively.

Mangalore Refinery and Petrochemicals declined 2.6% to ₹170.30 after the company reported weaker-than-expected quarterly results.

Revenue declined 8.4% to 28,423 crore and the company swung to a net income of 387.1 crore compared to a loss of 188 crore in the quarter a year ago. 

Colgate Palmolive India declined 1.3% to ₹2,503.70 after the company reported mixed quarterly results. 

Revenue in the December quarter rose 8.2% to 1,836 crore, and net income soared 35% to 330 crore from 243 crore a year ago.

Coforge Ltd. declined 0.5% to ₹6,251.50 after the tech services company reported weak earnings growth.

Revenue in the December quarter increased 13% to 2,323 crore and net income rose 4.3% to 236 core from 228 crore a year ago. 

Tamilnad Mercantile Bank declined 1.4% to ₹499.90 after the regional bank reported weak quarterly earnings growth.

Total income in the December quarter increased 18% to ₹1,387 crore, and net income rose 1% to ₹284 crore from ₹280 crore a year ago.