India Movers: Bikaji Foods, CESC, Precision Camshafts, Mangalore Chemicals, Time Technoplast

Arun Goswami
24 May, 2024
Mumbai

Stocks in Mumbai struggled to advance in Friday's trading, and market indexes are set to close higher by 2% after a week of choppy trading.. 

The Sensex index decreased by 0.1% to 75,368.18, and the Nifty index fell by 0.1% to 22,946.05. 

On the Mumbai stock exchange, 108 stocks traded at their 52-week highs, and 10 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 ₹83.22 against the U.S. dollar.

Bikaji Foods soared 6.6% to ₹569.0 after the packaged food product maker reported a surge in earnings in the March quarter. 

Revenue in the quarter increased by 33% to ₹614.4 crore from ₹462.3 crore, and net income soared by 200% to ₹116.3 crore from ₹38.7 crore a year ago. 

Mangalore Chemicals & Fertilizers declined 3.1% to ₹108.30 after the company reported a sharp decline in net profit in the March quarter. 

Net income in the quarter plunged 93% to ₹4.8 crore from ₹67.9 crore, and revenue dropped to ₹799.2 crore from ₹1,174.97 crore a year ago, respectively. 

Diluted earnings per share dropped to 41 paisa from ₹5.73 a year ago.

The company recommended ₹1.50 per share as the final and total dividend for the fiscal year 2024. 

CESC declined 1.7% to ₹143.60 after the electric utility in Kolkata reported a decline in profit in the March quarter. 

Revenue in the quarter rose 9.2% to ₹3,387 crore from ₹3,102 crore, and net income fell 6.7% to ₹415 crore from ₹455 crore a year ago. 

Precision Camshafts dropped 6.1% to ₹203.65 after the automotive products maker reported a decline in revenue and earnings in the March quarter. 

Revenue fell 8% to ₹256.2 crore from ₹278.6 crore, and net income dropped 70% to ₹3.35 crore from ₹11.1 crore a year ago. 

Time Technolplast Ltd. dropped by 1.4% to ₹283.50 despite the molded plastic product maker reporting an increase in revenue and earnings in the March quarter.

Revenue in the quarter increased 17% to 1,394.3 crore from 1,192.4 crore, and net income soared 44.5% to 94.3 crore from 65.2 crore a year ago, respectively.