India Movers: DLF, Maruti Suzuki, Sanofi, Shriram Finance, Zomato

Arun Goswami
14 May, 2024
Mumbai

Stocks in Mumbai edged higher in cautious trading, and investors reviewed the fresh batch of earnings and inflation update. 

Consumer price inflation in April dipped to 4.83% from 4.85% in March but stayed above the RBI's preferred range between 2% and 4% for the 55th month in a row. 

The Sensex index increased by 0.1% to 72,851.68, and the Nifty index rose by 0.1% to 22,125.80. 

On the Mumbai stock exchange, 34 stocks traded at their 52-week highs, and 4 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 ₹83.50 against the U.S. dollar.

Shriram Finance gained 3.5% to ₹2,391.45 after the company agreed to sell its subsidiary Shriram Housing Finance for ₹4,630 crore to Warburg Pincus. 

Zomato Ltd. declined 6.2% to ₹184.35 after the food delivery company swung to a profit in its latest quarter. 

Revenue in the March quarter rose 73% to ₹3,562 crore from ₹2,062 crore, and net income swung to a profit of ₹175 crore from a loss of ₹189 crore a year ago. 

The company said it plans to issue 18 crore shares, worth about ₹3,500 crore at the current stock price, to reward employees over the next five years. 

Consolidated revenue in fiscal 2024 rose to ₹12,114 crore from ₹7,079 crore, and net income swung to a profit of ₹351 crore from a loss of ₹971 crore a year ago. 

The financial results are not comparable in two years because of the acquisition of Blink Commerce Pvt. Ltd., the quick delivery service provider. 

DLF Ltd. declined 0.7% to ₹832.30 despite the Delhi-based residential real estate developer reporting a rise in revenue and earnings. 

Revenue in the March quarter rose 46.6% to ₹2,135 crore, and net income soared 61.5% to ₹920.7 crore from ₹570 crore a year ago. 

Maruti Suzuki India increased 0.1% to ₹12,691.75, and the largest vehicle maker announced two new passenger car models priced at 8.9 lakh and 9.4 lakh, respectively. 

Sanofi India increased 0.9% to ₹8,065.55 after the pharmaceutical company reported sharply lower quarterly revenue. 

Revenue in the March quarter dropped 74.3% to ₹732.4 crore from ₹2,851.1 crore, and net income swung to a loss of ₹26.7 crore compared to a gain of ₹17.8 crore a year ago.