India Movers: Aavas Financiers, Bajaj Finance, Equitas Small Finance, IndusInd Bank, Prestige Estates, Rashi Peripherals, Sobha Developers

Arun Goswami
05 Apr, 2024
Mumbai

Stocks in Mumbai struggled to advance ahead of the widely anticipated monetary policy decisions by the Reserve Bank of India later in the day. 

The RBI is expected to hold policy rates steady and may raise its economic growth projections.  

The Sensex index decreased 0.03% to 73,876.83, and the Nifty index edged down 0.08% to 22,434.65. 

For the week to Thursday's close, the Sensex gained 0.9% and the Nifty index advanced 1.3%. 

On the Mumbai stock exchange, 214 stocks traded at their 52-week highs, and 7 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds held steady at 7.09%, and the Indian rupee held steady at ₹83.46 against the U.S. dollar.

IndusInd Bank increased 0.2% to ₹1,545.0 after the company reported healthy gains in its loan portfolio and deposit base. 

New loans in the March quarter increased 18% to ₹3.43 trillion or lakh crore, and deposits rose 14% to ₹3.85 trillion or lakh crore. 

Bajaj Finance declined 0.2% to ₹7,291.95, and the company added 3.2 million (32 lakh) customers in the March quarter, increasing its total customer base to 83.6 million (8.36 crore). 

At the end of March, assets under management grew by 34% to approximately ₹330,400 crore from ₹247,379 crore, and assets rose by ₹19,400 crore in the fiscal fourth quarter. 

Deposits at the end of March increased by 35% to ₹60,100 crore as compared to ₹44,666 crore a year ago. 

Prestige Estates Projects gained 0.8% to ₹1,312.0 after the company acquired 21 acres of land for 450 crore in Whitefield, Bengaluru. 

Sobha Ltd. increased 0.03% to ₹1,569.50, after the real estate developer said revenue in the March quarter increased 2.8% to 1,504 crore. 

The average sale price for new properties rose 13.5% to ₹11,230 per square foot. 

Rashi Peripherals soared 6.5% to ₹358.80 after the company won two contracts to supply information technology and communication products to NMDC Data Center Private Limited. 

The company will supply and install advanced technology products worth ₹1,065.5 crore and ₹445.5 crore to a location in a special economic zone.   

Aavas Financiers increased 5.3% to ₹1,526.55 after the company reported a sharp jump in new loans in the March quarter. 

New loans issued in the quarter rose 20% from a year ago and 39% form the previous quarter to ₹1,890 crore and assets under management rose 22% from a year ago to ₹17,300 crore. 

Loans past due declined 15 basis points from a year ago and 60 basis points from the previous quarter to 3.15%, and liquidity position improved to ₹3,000 crore at the end of March. 

Equitas Small Finance Bank decreased 0.1% to ₹98.40 and the banks reported a sharp jump in its loan portfolio and bank deposits. 

New loans increased 23% to ₹34,337 crore and total deposit jumped 43% to ₹36,129 crore, from a year ago, respectively.