India Movers: Ask Automotive, Axis Bank, HUL, ITC, Kotak Mahindra, LTIMindtree, Macrotech

Arun Goswami
25 Apr, 2024
Mumbai

Benchmark indexes on Dalal Street opened lower after a string of weak quarterly results and cautious sentiment in international markets.  

The Sensex index decreased by 0.4% to 73,572.34, and the Nifty index fell by 0.4% to 22,316.90. 

On the Mumbai stock exchange, 65 stocks traded at their 52-week highs, and 2 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 7.18%, and the Indian rupee edged lower at ₹83.33 against the U.S. dollar.

Axis Bank rose 0.9% to ₹1,065.0, and the third-largest private bank swung to a net profit in the March quarter. 

The company reported a net profit in the quarter of ₹7,129.7 crore, compared to a loss of ₹5,728.4 crore a year ago. 

Net interest margin increased 5 basis points from the previous quarter to 4.06%. 

Hindustan Unilever decreased 0.1% to ₹2,260.05 after the consumer products maker reported a slight decline in consolidated net profit in the March quarter. 

Consolidated revenue rose about 1% to ₹15,441 crore, and net profit declined 1.6% to 2,558 crore from a year ago, respectively. 

Indian Hotels Company rose 1% to ₹610.0 after the hotel chain operator said net profit in the March quarter rose 29.4% from a year ago to ₹438.8 crore.

Ask Automotive decreased 0.3% to ₹317.0, and the company announced a joint venture with the Japan-based AISIN Group to market automotive components in the aftermarket. 

LTIMindtree increased by 0.2% to ₹4,736.0 after the tech services provider reported weaker-than-expected quarterly results. 

Revenue in the March quarter rose 2.3% to ₹8,892.9 crore, and net profit declined 1.2% to ₹1,110 crore. 

Macrotech Developers advanced 1.2% to ₹1,250.0 after the residential real estate developer said March quarter consolidated after-tax income declined 10.6% from a year ago to ₹667 crore. 

Rail Vikas Nigam added 2.5% to ₹285.50 after the company's joint venture was deemed the lowest bidder for a project worth ₹439 crore for Southern Railway. 

Kotak Mahindra decreased 1.7% to ₹1,743.85 after the Reserve Bank of India barred the company from acquiring new customers through its online and mobile banking channels.

The central bank also placed a ban on the company from issuing new credit cards for a lack of technology governance and risk management compliance for two years.