India Movers: IndiGo, ICICI Bank, IndusInd Bank, NTPC, Power Grid

Arun Goswami
29 Jul, 2024
Mumbai

Market indexes in Mumbai opened higher, and investors reacted to a fresh batch of earnings. 

Indian government bond yields were in focus ahead of monetary policy decisions from major central banks in the U.S., U.K., and Japan. 

The Sensex index increased by 0.5% to 81,706.71, and the Nifty index rose by 0.4% to 24,930.25.

On the Mumbai stock exchange, 122 stocks traded at their 52-week highs, and 7 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.94%, and the Indian rupee edged higher to ₹83.71 against the U.S. dollar.

Power Grid decreased o.6% to ₹342.15, and the company reported a slight decline in revenue in the June quarter. 

Revenue eased to ₹11,006.2 crore from ₹11,048 crore, and net profit increased 3.5% to ₹3,723.9 crore from ₹3,597.6 crore a year ago. 

NTPC Ltd. increased 1% to ₹399.50, and the power producer reported an increase in sales and earnings in the June quarter. 

Revenue increased 12.6% to ₹48,521 crore from ₹43,075 crore, and net income advanced 12.2% to ₹5,506 crore from ₹4,907 crore a year ago. 

Interglobe Aviation declined 1.6% to ₹4,421.0, and the parent company of IndiGo reported a decline in profit in the June quarter due to a rise in fuel costs and higher maintenance costs. 

Consolidated revenue increased 17.3% to ₹19,571 crore from ₹16,683 crore, and net income declined 11.7% to ₹2,728.8 crore from ₹3,090.8 crore. 

ICICI Bank jumped 2% to ₹1,232.05, and the financial service company reported higher net interest income and net profit due to robust loan growth and strong treasury management. 

Net interest income increased 7.4% to ₹19,553 crore from ₹18,226 crore, and net income advanced 14.6% to ₹11,059 crore from ₹9,648 crore from a year ago , respectively. 

Net interest margin decreased to 4.3% from 4.78% in the previous year and 4.40% in the previous quarter. 

Total loans  by 15.9% from a year ago,  with the gross non-performing assets ratio rose to 2.15% from 2.16% at the end of the prior three months in 2024. 

The net NPA edged up slightly to 0.43%, compared to 0.42 per cent in the previous quarter ending in March. 

IndusInd Bank added 1.5% to ₹1,425.0 after the financial service company reported an increase in net interest income in the June quarter. 

Net interest income advanced 11% to ₹5,408 crore, net income advanced 2% to ₹2,171 crore, and gross non-performing  asset ratio edged up 10 basis points to 2.02%.