India Movers: Bata, Cummins India, Gulf Oil, Linde India, Lupin, PB FIntech, VIP Industries, Tata Power

Arun Goswami
07 Aug, 2024
Mumbai

Stocks in Mumbai recovered from two days of steep losses driven by volatile international markets. 

The Reserve Bank of India is expected to hold interest rates steady at the end of the policy meeting on Thursday. 

The Sensex index increased by 0.8% to 79,237.88, and the Nifty index rose 0.9% to 24,222.55. 

On the Mumbai stock exchange, 74 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.86%, and the Indian rupee edged lower to ₹83.91 against the U.S. dollar.

PB Fintech increased 1.4% to ₹1,454.95, and the online insurance marketplace operator swung to a profit in the June quarter. 

Revenue increased 52% to ₹1,010 crore from ₹666 crore, and net income swung to a profit of ₹60 crore from a loss of ₹11.9 crore in the period year over year. 

Cummins India declined 0.9% to ₹3,490.0, and the industrial equipment maker reported a sharp jump in profit in the June quarter. 

Revenue increased 4.3% to ₹2,304 crore from ₹2,208.7 crore, and net income soared 33% to ₹419.8 crore from ₹315.7 crore a year ago. 

Linde India declined 0.2% to ₹7,784.0, and the natural gas company reported mixed quarterly results. 

Revenue in the June quarter fell 9.4% to ₹638.9 crore from ₹636.1 crore, and net income advanced 13.8% to ₹113.7 crore from ₹99.9 crore a year ago. 

VIP Industries gained 1.4% to ₹451.0, and the molded luggage maker reported a steep decline in earnings in the June quarter.

Revenue edged up 0.4% to 638.9 crore from 636.1 crore, and net income plunged 93% to 4 crore from 57.8 crore a year ago. 

Bata India declined 4.5% to ₹1,447.25, and footwear retailer reported a jump in income in the June quarter driven by a one-time exceptional gain. 

Revenue fell 1.4% to ₹944.6 crore from ₹958.1 crore, but net income advanced 62.8% to ₹174 crore from ₹106.9 crore a year ago. 

Tata Power decreased 2.2% to ₹427.70, and the electric power generator reported a rise in revenue and net income in the June quarter. 

Revenue increased 14%  to ₹17,294 crore from ₹15,213 crore and net income advanced 4% to  ₹1,189 crore from ₹1,141 crore a year ago. 

Lupin Ltd. jumped 4.7% to ₹2,001.25 after the company reported solid results in the June quarter. 

Revenue increased 16% to ₹5,514.60 crore from ₹4,895.10 crore, and net income soared 77% to ₹801.3 crore from ₹452.3 crore a year ago. 

Gulf Oil Lubricants India soared 10.3% to ₹1,189.80 after the chemical company reported solid quarterly results. 

Revenue increased 9% to ₹885.1 crore from ₹811.7 crore, and net income soared 29% to ₹88 crore from ₹68 crore a year ago.