India Movers: Bank of India, Britannia, Divi's Laboratories, JK Tyre & Industries, State Bank of India, Titan

Arun Goswami
05 Aug, 2024
Mumbai

A global market sell-off for the second day in a row dragged market indexes in India amid rising concerns that the U.S. economic slowdown may negatively impact exports to the world's largest economy. 

The Sensex index decreased by 2.5% to 78,968.21, and the Nifty index fell by 2.4% to 24,121.15. 

On the Mumbai stock exchange, 171 stocks traded at their 52-week highs, and 51 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.98%, and the Indian rupee edged lower to ₹83.78 against the U.S. dollar.

State Bank of India declined 2.2% to ₹828.70, and the largest financial service company in India reported better-than-expected June quarter results. 

The gross non-performing assets ratio declined to 2.2% from 2.7%, and net income declined 1% to ₹17,035.2 crore. 

Titan Company declined 0.5% to ₹3,443.95, and the specialty retailer reported a decline in its June quarter profit to ₹770 crore from ₹777 crore a year ago. 

Britannia Industries rose 1.3% to ₹5,794.10, and the food products maker reported June quarter net income increased 11% to ₹506 crore from ₹453 crore a year ago. 

Net revenue increased 6% to ₹4,250 crore from ₹4,015 crore in the period a year ago and rose 4% from ₹4,086 crore in the previous quarter. 

Bank of India declined 4.9% to ₹119.90, and the financial services company said consolidate net income in the June quarter increased 10% to ₹1,702 crore from ₹1,551 crore a year ago. 

JK Tyre & Industries declined 2.5% to ₹420.35, and the industrial company reported consolidated net income rose 37% to ₹211 crore from ₹154 crore a year ago. 

Divi's Laboratories declined 3.3% to ₹4,822.25 after the generic pharmaceutical maker reported a double-digit increase in revenue and earnings in the June quarter. 

Revenue increased 19% to ₹2,118 crore, and net income advanced 21% to ₹430 crore from a year ago, respectively.