Market Updates

India Movers: Apollo Tyres, GSFC, Gulf Oil Lubricants, Ircon International, Hitachi Energy

Arun Goswami
22 May, 2024
Mumbai

    Benchmark indexes in Mumbai advanced in cautious trading, and investors digested the fresh batch of earnings. 

    The Sensex index increased by 0.1% to 74,034.56, and the Nifty index rose by 0.1% to 22,552.25. 

    On the Mumbai stock exchange, 127 stocks traded at their 52-week highs, and 10 stocks traded at their 52-week lows.

    GSFC declined 8.2% to ₹221.10 after the fertilizer company reported a decline in revenue and earnings in the March quarter. 

    Total revenue declined 16.3% to ₹2,017.46 crore and net income plunged 89% to ₹24.43 crore from a year ago, respectively. 

    Apollo Tyres increased 1.1% to ₹487.95 after the subsidiary of private equity firm Warburg Pincus's subsidiary, Iris Investment, sold its entire stake of 3.5% in the company. 

    Ircon International declined 3% to ₹281.05 after the railway construction company reported weak quarterly results. 

    Revenue in the March quarter fell 1% to ₹3,742 crore and profit declined 3.8% to ₹243.8 crore from a year ago, respectively. 

    Gulf Oil Lubricants rose 12.8% to ₹1,060.55 after the company reported rising revenue and earnings in the latest quarter. 

    Revenue in the March quarter rose 9.8% to ₹869.6 crore and net income soared 38.7% to ₹86.2 crore from a year ago, respectively. 

    Hitachi Energy rose 2.2% to ₹11,068.0 after the company reported positive quarterly results. 

    Revenue in the March quarter rose 27.1% to ₹1,695.3 crore from ₹1,334 crore, and net income more than doubled to ₹113.7 crore from ₹50.8 crore a year ago, respectively. 

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