India Movers: HDFC Bank, GSPL, IREDA, Jio Financial, Wipro

Arun Goswami
22 Apr, 2024
Mumbai

Stocks in Mumbai rebounded in Monday's trading as investors overlooked elevated geopolitical tensions and global interest rate uncertainty. 

The Sensex index increased by 0.3% to 73,303.91, and the Nifty index rose by 0.3% to 22,224.90. 

On the Mumbai stock exchange, 138 stocks traded at their 52-week highs, and 8 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.22%, and the Indian rupee edged lower at ₹83.43 against the U.S. dollar.

HDFC Bank decreased 0.2% to ₹1,528.50 after the financial services company reported weaker-than-expected March quarter results. 

Net interest income in the quarter rose 24.5% to 29,080 crore, and the core net interest margin was 3.4%. 

Wipro advanced 1.1% to ₹456.90 after the tech services providers reported smaller-than-expected declines in revenue and earnings in the March quarter. 

Revenue fell 4.2% to 22,208.3 crore and net income declined 7.9% to 2,835 crore from a year ago, respectively. 

Jio Financial Services rose 2.1% to ₹377.75 after the company reported March quarter financial results that surpassed market expectations. 

Consolidated revenue in the March quarter was nearly flat at 418 crore, and net income rose 5.7% to 310.6 crore from the previous quarter, respectively. 

Indian Renewable Energy Development Agency soared 7.2% to ₹172.10 after the company reported strong quarterly results. 

Net interest income in the March quarter jumped 35% to ₹172.10 and net profit advanced 33% to 337.4 crore from a year ago, respectively. 

Gujarat State Petronet plunged 20% to ₹302.15 after the petroleum and natural gas regulatory board cut the tariff on the company's key petroleum transmission pipeline by 47%.