India Movers: JSW Steel, JK Lakshmi, LIC, Lupin, Power Finance, United Breweries, Zomato

Arun Goswami
09 Feb, 2024
Mumbai

Stocks in Mumbai struggled to advance in Friday's trading, and bond yields held firm a day after the Reserve Bank of India held its key lending rates steady.

The Sensex index increased 321.42 points to 72,473.42, and the Nifty index gained 79.15 points to 22,009.85.

On the Mumbai stock exchange, 194 stocks traded at their 52-week highs and 5 stocks traded at their 52-week lows.

Life Insurance Corp. gained 6.5% to ₹1,112.0 after the company reported its quarterly results.

Net premium income in the December quarter increased 4.6% to ₹1.16 lakh crore, and net profit rose 49.10% to ₹9,444 crore.

JSW Steel declined 1.8% to ₹822.0, and the company finalized its 50:50 joint venture with the Japan-based JFE in JSW Electrical Steel Pvt. Ltd.

Zomato Ltd. added 1.4% to ₹142.0 after the food delivery company reported its latest quarterly results.

Total revenue in the December quarter jumped 69% to ₹3,288 crore, and the company swung to a consolidated net profit of ₹138 crore from a loss of ₹90.98 crore a year ago.

JK Lakshmi declined 1.1% to ₹915.0 after the cement maker reported quarterly results.

Consolidated profit in the December quarter increased 93.9% to ₹150.2 crore, and the company declared an interim dividend of ₹21 per share to shareholders on record on February 21.

Power Finance decreased 8.1% to ₹430.40 after the company reported quarterly results and declared an interim dividend.

Revenue in the December quarter rose 20% to ₹23,571.8 crore from ₹19,639 crore, and net income soared 23% to ₹4,727.4 crore from ₹3,860.3 crore a year ago.

The company also announced its second interim dividend of ₹3.50 per share.

Lupin Ltd. increased 1.8% to ₹1,636.35 after the company reported its latest quarterly results.

Revenue from operations in the December quarter increased 20.2% to ₹5,197.4 crore from ₹4,322.2 crore, and net income soared 300% to ₹613.1 crore from ₹153.4 crore a year ago, respectively.

United Breweries increased 2.5% to ₹1,799.95 after the alcoholic beverage company reported its quarterly results.

Revenue in the December quarter increased 12.2% to ₹4,155 crore and net income swung to a profit of ₹85.34 crore compared to a loss of ₹1.97 core in the corresponding period a year ago. 

Aster DM Healthcare decreased 1.3% to ₹435.20 after the healthcare company active in India and the Middle East reported its quarterly results.

Consolidated profit in its December quarter rose 28.6% from a year ago to ₹179.2 crore.

Bombay Dyeing and Manufacturing declined 6% to ₹174.45 after the ready-to-use textile company reported quarterly results.

Consolidated revenue in the December quarter declined to ₹386.4 crore from ₹658.2 crore, net income soared to ₹3,053 crore from a loss of ₹100.8 crore, and diluted earnings per share were ₹147.7 compared to a loss of ₹4.88 per share a year ago.

The company booked a profit of ₹3,880 crore ($467 million) from the 20-acre land sale to Japan-based Goisu Realty, a group company of Sumitomo Realty & Development.

The 20-acre property was sold for 79.5 billion yen or $532.2 million at the current exchange rate of 149.38 yen to one U.S. dollar.