India Movers: HEG, GMM Pfaudler, Grasim Industries, Petronet LNG, Star Cement

Arun Goswami
23 May, 2024
Mumbai

Stocks in Mumbai meandered in early trading and investors reacted to the latest batch of corporate quarterly results. 

The Sensex index decreased by 0.1% to 74,194.83, and the Nifty index fell by 0.1% to 22,583.55. 

On the Mumbai stock exchange, 100 stocks traded at their 52-week highs, and 13 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.99%, and the Indian rupee edged lower at ₹83.27 against the U.S. dollar.

Grasim Industries decreased 0.5% to ₹2,423.40 despite the viscose fiber and yarn manufacturer reporting a rise in earnings and revenue in the March quarter. 

Revenue rose 13% to ₹37,727 crore, and net income advanced 15.5% to ₹2,722 crore from ₹2,355 crore a year ago, respectively. 

Petronet LNG increased 0.6% to ₹310.45 after the natural gas importer and LNG gas terminal operator reported better-than-expected results in the March quarter. 

Revenue decreased 0.6% to ₹13,793.2 crore from ₹13,873.9 crore, and net income rose 24% to ₹734.1 crore from ₹591.2 crore a year ago, respectively. 

GMM Pfaudler decreased 3.5% to ₹1,382.0 after the process technology company reported a decline in sales and earnings in the March quarter. 

Revenue fell 14.5% to ₹745.6 crore and net income declined 14% to ₹28.7 crore from a year ago, respectively. 

Star Cement dropped 0.3% to ₹234.75 after the cement maker reported a decline in earnings and revenue in the March quarter. 

Revenue rose 10.2% to ₹9,135.2 crore from ₹8,291.5 crore, and net income fell 8.8% to ₹876.6 crore from ₹961.1 crore a year ago, respectively. 

HEG Ltd. decreased 5.3% to ₹2,544.25 after the graphite electrode maker reported weak results in the March quarter. 

Revenue in the March quarter decreased 11.3% to ₹546.9 crore, and net income plunged 67% to ₹32.9 crore from ₹99.7 crore a year ago, respectively.