India Movers: ACC, Adani Total, Colgate-Palmolive, HPCL, PNB Housing

Arun Goswami
30 Jul, 2024
Mumbai

Stocks in Mumbai lacked direction, bond yields edged higher, and the rupee traded near a record low as investors reviewed the latest batch of earnings. 

The Sensex index increased by 0.03% to 81,387.72, and the Nifty index rose by 0.5% to 24,847.30. 

On the Mumbai stock exchange, 177 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 7.03%, and the Indian rupee edged higher to ₹83.73 against the U.S. dollar.

ACC Ltd. decreased 0.06% to ₹2,602.75, and the company reported a decline in net income in the June quarter. 

Revenue in the quarter decreased to ₹5,154.9 crore from ₹5.201.1 crore, and net income fell 22.5% to ₹361.40 crore from ₹466.1 crore a year ago, respectively. 

Adani Total Gas Ltd. advanced 0.7% to ₹898.85 after the natural gas distributor reported a jump in revenue and earnings in the June quarter. 

Revenue increased 9% to ₹1,237 crore, and net income soared 19.9% to ₹177.1 crore from ₹147.7 crore a year ago, respectively. 

Colgate Palmolive soared 6% to ₹3,396.95, and the personal care product maker reported sharply higher net income in the June quarter. 

Consolidated revenue increased 13% to ₹1,485.7 crore from ₹1,314.7 crore, and net income advanced 22% to ₹364 crore from ₹273,6 crore a year ago, respectively. 

PNB Housing Finance decreased 1.6% to ₹782.05 on a report that the U.S. private equity firm Carlyle is likely to sell its 6.4% stake in the company through a block traded on Tuesday. 

HPCL increased 1.3% to ₹385.85, and the company reported a decline in net income because of a weak gross crude oil refining margin. 

Consolidated revenue was nearly flat at ₹1.20 lakh crore compared to ₹1.19 lakh crore, and net income plunged 90.6% to ₹633.9 crore from ₹6,765.50 crore a year ago, respectively. 

The company's throughput in the quarter increased to 5.76 million tons from 5.4 million tons, and gross refining margin declined to $5.03 per barrel from $7.44 barrels a year ago, respectively. 

In the quarter, the company sold 12.07 million tons of energy products in the domestic market compared to 11.43 million tons a year earlier; retail sales outlets increased by 126 to 22,148; and it added nine new LPG distributors, increasing the total to 6,358.