India Movers: Glenmark Pharma, NMDC, One 97 Communications, Rajesh Exports

Arun Goswami
14 Feb, 2024
Mumbai

Stocks in Mumbai traded higher amid positive market sentiment and stable bond yields and the rupee. 

The Sensex index increased 73.58 points to 71,891.62, and the Nifty index rose 32.35 points to 21,866.65.

On the Mumbai stock exchange, 155 stocks traded at their 52-week highs and 17 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds held steady at 7.11%, and the Indian rupee strengthened to ₹82.99 against the U.S. dollar.

NMDC increased 4% to ₹235.80 after the mining company reported a double-digit increase in sales and earnings in its latest quarterly results. 

Revenue in the December quarter increased 45.4% to ₹5,410 crore, and net income soared 62% to ₹1,470 crore from a year ago, respectively. 

Glenmark Pharmaceuticals decreased 4.4% to ₹796.0 after the generic pharmaceutical company reported a decline in sales in its latest quarter. 

Revenue in the December quarter declined 19.1% to ₹2.506.70 crore, and the pharma company swung to a net loss of ₹449.60 crore from a profit of ₹185.80 crore a year ago. 

One 97 Communications dropped 10% to ₹342.15 after the parent company of Paytm said that the Directorate of Enforcement has launched a preliminary inquiry into the company's alleged violations of foreign exchange rules. 

Rajesh Exports declined 7% to ₹312.55 after precious jewelry retailer reported a decline in sales in its latest quarter. 

Revenue in the December quarter declined yo ₹6,5434 crore from 9,4475 crore, after-tax net income plunged to ₹0.12 crore from ₹4.21 crore, and diluted earnings per share fell to 42 paisa from ₹14.28 a year ago.