India Movers: Asian Paints, GMR Airports, Just Dial, KEC Intnl, Techno Electric, TV 18

Arun Goswami
18 Jul, 2024
Mumbai

Stocks lacked direction as investors reviewed the latest batch of quarterly results. Network 18, Just Dial, Asian Paints, Elcon Engineering, and L&T Finance released their quarterly results. 

The Sensex index increased by 0.1% to 80,899.43, and the Nifty index rose by 0.2% to 24,656.65. 

On the Mumbai stock exchange, 66 stocks traded at their 52-week highs, and 6 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.96%, and the Indian rupee edged higher to ₹83.57 against the U.S. dollar.

GMR Airports decreased 0.7% to ₹96.25, and the parent company of New Delhi airport said June passenger traffic increased 8% from a year ago, driven by a 12.8% increase in international passengers and a 6.4% rise in domestic travelers. 

KEC International increased 3.6% to ₹919.95 after the company said it won several contracts worth ₹1,100 crore in the Middle East, India, the Americas, and Australia. Domestically, the company won orders from Power Grid. 

Just Dial increased 14.5% to ₹1,184.55 after the company reported a surge in quarterly profit. 

Revenue in the June quarter increased 13.6% from a year ago to ₹280.5 crore, and net income soared 69% to ₹141.2 crore. 

TV 18 Broadcast decreased 2.5% to ₹42.44, and the media company reported weak June quarter results. 

Revenue declined 3% to ₹3,069 crore from ₹3,176 crore, and operating income loss expanded to ₹109 crore from ₹49 crore a year ago. 

Techno Electric & Engineering increased 1% to ₹1,509.95, and the company launched its institutional offering on July 16 with a floor price of 1,506.58 per share. 

Asian Paints decreased 0.8% to ₹2,950.95, and the paint and chemical maker reported a decline in revenue and earnings in the June quarter. 

Revenue decreased 2.3% to ₹8,969.7 crore and net profits fell 24.6% to 1,186.8 crore from a year ago, respectively.