India Movers: Elgi, GMDC, LIC Lumax Auto Technologies, Natco, National Aluminium

Arun Goswami
28 May, 2024
Mumbai

Stocks in Mumbai advanced as investors reacted to the latest batch of mixed earnings. The rupee held firm, and the yield on the Indian government bond edged lower. 

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, 140 stocks traded at their 52-week highs, and 27 stocks traded at their 52-week lows.

Life Insurance Corporation gained 0.8% to ₹1,037.65 after the largest insurance company reported a rise in revenue and earnings in the March quarter. 

Standalone net premium increased 15.6% to ₹1.52 lakh crore from ₹1.32 lakh crore, and net income advanced 2.5% to ₹13,763 crore from ₹13,428 crore a year ago, respectively. 

The company's board proposed a final dividend of ₹6 per share. 

Lumax Auto Technologies gained 4% to ₹491.50 despite the auto component maker reporting a sharp decline in revenue and earnings in the March quarter. 

Revenue declined 25.5% to ₹971 crore from ₹1,303 crore, and net income plunged 29.9% to ₹66 crore from ₹94 crore a year ago, respectively. 

The company's board proposed a ₹75 per share final dividend. 

Natco Pharma jumped 6.8% to ₹1,100.0 after the generic pharmaceutical products maker reported a surge in revenue and earnings in the March quarter. 

Consolidated revenue advanced 19% to ₹1,068 crore from ₹898 crore, and net income soared 40.1% to ₹386 crore from ₹276 crore a year ago, respectively. 

National Aluminium Company rose 4.2% to ₹204.50 despite the company reporting a decline in revenue in its March quarter. 

Revenue decreased 2.5% to ₹3,579 crore from ₹3,671 crore, and net income soared to ₹997 crore from ₹495 crore a year ago, respectively. 

Gujarat Mineral Development Corp. decreased 2.1% to ₹394.45 after the resource company reported a decline in revenue and profit in the March quarter. 

Revenue fell 20.8% to ₹751 crore from ₹948 crore, and net profit fell 53.2% to ₹207 crore from ₹442 crore a year ago, respectively. 

Elgi Equipments Ltd. dropped 5.2% to ₹616.45 after the compressor and heating systems maker reported a sharp decline in profit in the March quarter. 

Revenue increased 3.6% to 866 crore from 836 crore, and net income plunged 55.2% to 76 crore from 170 crore a year ago, respectively. 

The company declared a final dividend of 2 per share payable on or before August 29 to shareholders on record on July 24.