Movers: Ambuja Cements, Angel One, ICICI Lombard, IIFL, Infosys, Tata Communications, Vodafone Idea

Arun Goswami
18 Apr, 2024
Mumbai

Stocks struggled to stay above the flatline in Thursday's trading as investors reviewed a fresh batch of earnings and overlooked elevated tensions in the Middle East. 

The Sensex index increased by 0.3% to 73,183.10, and the Nifty index rose by 0.3% to 22,212.35. 

On the Mumbai stock exchange, 59 stocks traded at their 52-week highs, and 2 stocks traded at their 52-week lows.

Vodafone Idea decreased 1.3% to ₹12.90 after the company confirmed raising ₹5,400 crore through the sale of stocks at ₹11 per share to an anchor investor. 

The embattled wireless telecom company is looking to raise an additional ₹18,000 crore in an offering to investors as early as next week. 

Infosys decreased 3.6% to ₹1,415.20 ahead of the company's release of March quarter results later in the day, and investors are estimating sales and earnings to increase by single digits. 

ICICI Lombard General Insurance rose 1.5% to ₹1,654.10 after the insurance company reported March quarter earnings rose, driven by a healthy increase in premiums and investment income. 

Net income in the quarter rose 18.9% to ₹519.50 crore compared to ₹436.9 crore a year ago. 

Angel One increased 0.7% to ₹2,855.0 after the stock brokerage company reported a surge in revenue and earnings in the March quarter. 

Revenue rose 65% to 1,357 crore, and net income advanced 27% to 350 crore from a year ago, respectively. 

Ambuja Cements increased 2.5% to ₹622.0, and the Adani family exercised the final tranche of warrants and increased their stake in the company to 70.3% through an investment of ₹8,339 crore. 

Tata Communications declined 2.9% to ₹1,853.0 after the company reported mixed results in the March quarter. 

Consolidated revenue rose 24.5% to ₹5,691 crore, and net profit fell slightly to ₹321.5 crore from ₹326.6 crore in the similar period a year ago. 

IIFL increased 1.7% to ₹429.20 and the company's board approved the right issue of 1 share for every nine held by shareholders.