Market Updates

India Movers: Gokaldas, ICICI Prudential, Puravankara, Tata Consumer Products

Arun Goswami
24 Apr, 2024
Mumbai

    Stocks in Mumbai opened higher as investors reviewed the latest batch of earnings. 

    Positive market sentiment was also bolstered by overnight gains in New York for the second day in a row. 

    The Sensex index increased by 0.1% to 73,810.07, and the Nifty index rose by 0.15% to 22,484.14. 

    On the Mumbai stock exchange, 105 stocks traded at their 52-week highs, and 3 stocks traded at their 52-week lows.

    Gokaldas Exports declined 0.9% to ₹808.15, and the company's board approved an institutional offering to raise as much as ₹775 crore. 

    Puravankara Ltd. gained 0.2% to ₹356.05 after the company was appointed to develop the Pali Hill project in Mumbai, spanning 10 acres of land. 

    ICICI Prudential Life Insurance rose 3% to ₹597.85, and the financial service company reported weak quarterly results. 

    After-tax net income in the March quarter decreased by 26% to ₹173.6 crore, and the value of new business, a measure of revenue, dropped by 26.4% to ₹776 crore from a year ago, respectively.

    The margin for new business also declined to 21.4% from 32% in the December quarter. 

    Tata Consumer Products increased 0.1% to ₹1,172.0, and the company reported a decline in March quarter profit. 

    Revenue in the quarter increased 8.5% to ₹3,927 crore, and after-tax net profit decreased 19.3% to 217 crore from a year ago, respectively. 

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