India Movers: APL Apollo Tubes, BEML, ITDC, JK Cement, Tata Motors, Union Bank of India

Arun Goswami
13 May, 2024
Mumbai

Benchmark indexes in Mumbai dropped nearly 1% in early trading following weak market sentiment in Asia after tensions rose between the U.S. and China. 

The Sensex index increased by 0.7% to 72,917.27, and the Nifty index rose by 0.7% to 22,117.40. 

On the Mumbai stock exchange, 129 stocks traded at their 52-week highs, and 37 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.12%, and the Indian rupee edged lower at ₹83.51 against the U.S. dollar.

India Tourism Development Corporation jumped 2.5% to ₹629.45 after the company reported better-than-expected quarterly results. 

Revenue in the March quarter declined 3.8% to ₹147.8 crore, and after-tax profit increased 68% to ₹32.4 crore from a year ago, respectively. 

APL Apollo Tubes declined 1.8% to ₹1,509.0 after the company reported a decline in profit in the latest quarter. 

Revenue in the March quarter rose 7.6% to 4,765.7 crore, and after-tax income declined 15.6% to 170.4 crore from a year ago, respectively. 

JK Cement increased 1.3% to ₹3,892.05 after the company reported a rise in revenue and earnings in the latest quarter. 

Revenue in the March quarter increased 11.8% to 3,105.8 crore, and after-tax income doubled to 219.7 crore from a year ago, respectively. 

Bharat Earth Movers, or BEML, jumped 4.5% to ₹3,356.0 after the company reported a rise in earnings and sales in its latest quarter. 

Revenue in the March quarter rose 9.1% to 1,513.7 crore, and net profit soared 62.8% to 256.8 crore from a year ago, respectively. 

Tata Motors dropped 8.5% to ₹956.15 despite the automotive company reporting strong quarterly results. 

Revenue in the March quarter rose 14.3% to ₹1.2 lakh crore, and net profit soared 222% to ₹17,407.2 crore from a year ago, respectively. 

The company's board proposed a final dividend of ₹6 per share and ₹6.20 for class A shares. 

Union Bank of India declined 6.2% to ₹133.15 despite the bank reporting a 19% increase in quarterly profit.