India Movers: India Cements, Oil India, Signatureglobal, Solara Active Pharma, Wheels India

Arun Goswami
21 May, 2024
Mumbai

Stocks in Mumbai opened lower amid Lok Sabha election jitters, global rate path uncertainties, and elevated energy prices. 

Moreover, market sentiment was cautious after foreigners sold a net of ₹10,650 crore worth of stocks in the previous week, increasing the May total to ₹33,625 crore. 

The Sensex index decreased by 0.2% to 73,894.04, and the Nifty index fell by 0.1% to 22,478.40. 

On the Mumbai stock exchange, 153 stocks traded at their 52-week highs, and 19 stocks traded at their 52-week lows.

Solara Active Pharma Sciences increased 0.06% to ₹482.0 after the company's Visakhapatnam facility passed the initial onsite inspection by the U.S. Food and Drug Administration. 

Signature Global India added 2.9% to ₹1,301.0 after the real estate development company agreed to acquire a 14.63-acre land parcel for ₹350 crore. 

Wheels India rose 2.2% to ₹591.0 after the manufacturing company reported weak quarterly sales in the March quarter. 

Consolidated revenue in the quarter increased 1.6% to ₹1,274.50 core from ₹1,254.57 crore, net income increased to ₹38.51 crore from ₹22.34 crore, and diluted earnings per share advanced to ₹15.76 from ₹9.14 a year ago. 

India Cements gained 2.9% to ₹214.50 after the company reported a smaller loss in the March quarter. 

Revenue in the quarter decreased 14.7% to ₹1,245.4 crore from ₹1,460.5 crore, and net loss shrank to ₹29.3 crore from ₹217.6 crore a year ago. 

Oil India increased 1.4% to ₹647.0 despite the oil production, distribution, and marketing company reporting weak quarterly results. 

Revenue in the March quarter decreased 4.9% to ₹9,147 crore from ₹9,614.3 crore, and net income dropped 10.5% to ₹2,333 crore from ₹2,607.7 crore a year ago.