India Movers: Amara Raja Energy, Aditya Birla Fashion, GNFC, Hindalco Industries, IRCTC, NBCC

Arun Goswami
29 May, 2024
Mumbai

Stocks in Mumbai headed lower and market indexes declined as the Lok Sabha election results date approached next week. 

Market sentiment was also on the defensive amid rising tensions in the Middle East and in the Taiwan Strait. 

The Sensex index decreased by 0.5% to 74,766.10, and the Nifty index fell by 0.5% to 22,764.60.

On the Mumbai stock exchange, 74 stocks traded at their 52-week highs, and 32 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.01%, and the Indian rupee edged lower at ₹83.25 against the U.S. dollar.

Gujarat Narmada Valley Fertilizers and Chemicals dropped 1.9% to ₹658.0 after the company reported a decline in revenue and earnings in the March quarter. 

Consolidated revenue declined 7.1% to ₹2,110 crore from ₹2,271 crore, and net income plunged 61.3% to ₹130 crore from ₹663 crore a year ago, respectively. 

Amara Raja Energy decreased 0.4% to ₹1,242.45 despite the battery maker reporting higher revenue and earnings in the March quarter. 

Revenue increased 19.5% to ₹2,908 crore from ₹2,433.2 crore, and net income soared 61.4% to ₹229.8 crore from ₹142 crore a year ago, respectively. 

Aditya Birla Fashion & Retail eased 1.4% to ₹282.0 after the apparel retail company reported a wider loss in the March quarter. 

Consolidated revenue in the quarter rose 18.3% to ₹3,407 crore from ₹2,880 crore, and net loss widened to ₹266 crore from ₹195 crore a year ago, respectively. 

IRCTC decreased 4.3% to ₹1,034.95 after the food services provider reported weaker-than-expected earnings growth in the March quarter. 

Revenue advanced 19.7% to ₹1,154.8 crore from ₹965 crore, and net income inched up 1.9% to ₹284.2 crore from ₹278.8 crore a year ago, respectively. 

Hindalco Industries inched up 0.6% to ₹686.40 after the company's subsidiary is set to list its share on the New York Stock Exchange. 

Novelis is planning to raise as much as $945 million through the sale of 45 million shares at prices between $18 and $21 a share, according to a filing with the U.S. securities regulator. 

NBCC rose 2.4% to ₹142.05 after the construction company reported a rise in revenue and earnings in the March quarter. 

Revenue soared 43.1% to ₹4,025 crore from ₹2,813 crore, and net income advanced 24.5% to ₹141 crore from ₹114 crore, a year ago, respectively.