India Movers: Bajaj Auto, Deepak Nitrite, Dixon Tech, Godrej Consumer, HG Infra, Jindal Steel, Paytm

Arun Goswami
01 Feb, 2024
Mumbai

Stocks in Mumbai lacked direction, and key infrastructure sector growth dropped to a 14-month low in December.

The Sensex index decreased 57.96 points to 71,694.15, and the Nifty index fell 0.60 points to 21,725.10.

On the Mumbai stock exchange, 265 stocks traded at their 52-week highs, and 11 stocks sank to their 52-week lows.

One 97 Communications dropped 20% to ₹609.0 after the Reserve Bank of India barred the bank from taking new deposits and offering new loans.

The central bank banned Paytm Payments Bank, an arm of the company, for a lack of compliance and weak regulatory supervision.

Godrej Consumer Products jumped 8.3% to ₹1,267.80 after the company reported quarterly results.

Consolidated revenue in the December quarter rose 1.7% to ₹3,660 crore, and net income advanced 6.4% to ₹581 crore.

Jindal Steel and Power added 0.5% to ₹761.30 after the company reported mixed quarterly results.

Consolidated revenue in the December quarter declined 6% to ₹11,701 crore, and net profit soared nearly three-fold to ₹1,928 crore.

HG Infra Engineering rose 1.5% to ₹946.90 after the company won a project by the South Central Railway.

Dixon Technologies gained 1.4% to ₹6,071.95 after the company reported a sharp jump in revenue and earnings in its latest quarter.

Revenue in the December quarter doubled to ₹4.818 crore, and net income jumped 87% to ₹97 crore from a year ago, respectively.

Deepak Nitrite increased 1% to ₹2,330.50, and the company's subsidiary signed an agreement with Gujarat to set up new chemical manufacturing plants in Dahej.

Deepak Chem Tech, a subsidiary of the company, plans to invest up to ₹9.000 crore and set up plants by 2027 to manufacture polycarbonate resins and compounds, aniline, methyl methacrylate, and polymethacrylate.

Bajaj Auto rose 0.9% to ₹7,733.60 after the 2- and 3-wheel vehicle maker reported January sales.

Vehicle sales in January jumped 24% from a year ago to 356,010 from 287,935 a year ago.

Domestic vehicle sales surged 31% to 230,043 and exports increased 12% to 126,967 from a year ago, respectively.