Market Updates
India Movers: Bharat Forge, Coal India, HAL, HEG, NHPC, Motherson, Phoenix Mills, Tilaknagar Industries
Arun Goswami
13 Feb, 2024
Mumbai
Benchmark indexes in Mumbai edged higher after lackluster trading in the early morning following the easing of retail inflation in January and the acceleration of industrial production in December.
The Sensex index decreased 77.60 points to 71,087.45, and the Nifty index fell 17.70 points to 21,597.02.
On the Mumbai stock exchange, 229 stocks traded at their 52-week highs and 21 stocks traded at their 52-week lows.
One 97 Communications declined 4.5% to ₹403.0 after Reserve Bank of India Governor Das rejected pleas to review the central bank's against the company's banking subsidiary.
Governor Das said the central bank's action followed a comprehensive review of the company's operations and processes.
NMDC, Union Bank, Punjab National Bank, BHEL, and GMR Airports traded higher after MSCI added the companies to its India-focus index.
HEG Ltd. decreased 5.1% to ₹1,673.20 after the maker of graphite electrodes reported its quarterly results.
Revenue in the December quarter increased 3.3% to ₹585.62, but net income plunged 64% to 37.08 crore from a year ago, respectively.
Tilaknagar Industries rose 2.5% to ₹248.95 after the company reported its latest quarterly results.
Revenue in the December quarter rose 19.1% to ₹805.97 crore, but net income dropped 42.3% to ₹43.77 crore from ₹75.88 crore a year ago.
Hindustan Aeronautics added 0.7% to ₹2,858.30 after the company reported its latest quarterly results.
Revenue in the December quarter increased 7% to ₹6,061.28 crore from ₹5,665.54 crore, and after-tax net income advanced 9.2% to ₹,1261.40 crore from ₹1,155.19 crore a year ago, respectively.
Diluted earnings per share rose to ₹18.74 from ₹17.26 a year ago.
The company also declared an interim dividend of ₹22 per share.
Coal India advanced 2.2% to ₹442.20 after the mining company reported its quarterly results.
Revenue from operations increased 2.8% to ₹36,153.97 crore from ₹35,169.33 crore, and net profit rose 17.8% to ₹9,093.69 crore from ₹7,719.11 crore a year ago, respectively.
Coal production in the quarter increased to 199 million tons from 180 million tons a year ago.
The company also declared its second interim dividend of ₹5.25 per share to be payable on February 20.
Bharat Forge declined 3.5% to ₹1,091.90 after the company reported a weaker than expected increase in its quarterly sales.
Revenue in the December quarter posted its third quarter increased 15.3% to ₹3,866.41 crore from ₹3,353.36 crore, and net income rose 223.2% to ₹254.45 crore from ₹78.72 crore a year ago, respectively.
NHPC increased 3.4% to ₹83.90 after the hydroelectric power company reported a decline in profit in its latest quarter.
Revenue in the December quarter increased by 20.4% to ₹2,055.50 crore from ₹2,582.76 crore, and net income declined by 26.8% to ₹491.90 crore from ₹671.67 crore a year ago, respectively.
Samvardhana Motherson declined 1.3% to ₹113.35 after the automotive component maker reported a weaker-than-expected increase in quarterly sales.
Revenue in the December quarter increased 26.8% to ₹25,697.56 crore from ₹20,267.24 crore, and net income advanced 26.5% to ₹633.30 crore from ₹500.73 crore a year ago, respectively.
Phoenix Mills decreased 5.7% to ₹2,505.90, despite the retail mall operator reporting a rise in profit in its latest quarter.
Revenue in the December quarter increased 44.2% to ₹986.1 crore from ₹683.8 crore, and net profit jumped 58.4% to ₹279.4 crore from ₹176.4 crore a year ago, respectively.
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