India Movers: Aurobindo Pharma, Berger Paints, Inox Wind, Grasim Industries, Trent

Arun Goswami
12 Aug, 2024
Mumbai

Stocks in Mumbai struggled to advance in Monday's trading as investors reviewed a fresh batch of corporate results. 

After the close, investors are looking forward to the release of industrial output and inflation data. 

Grasim Industries increased 0.3% to ₹2,585.70, and the diversified specialty chemical company reported better-than-expected June quarter results. 

Revenue rose 9% from a year ago to ₹33,861 crore, but net profit declined 23.4% to ₹1,208 crore from a year ago. 

The company also announced a capital expenditure plan of ₹4,533 crore in the current financial year. 

Berger Paints advanced 2.2% to ₹542.90, and the paint and chemical company reported a weaker-than-expected sales increase in the June quartet. 

Revenue edged up 2% to ₹3,091 crore from ₹3,029 crore, and net income edged slightly lower to ₹353.5 crore from ₹354.3 crore a year ago, respectively. 

The India-based paint company operates manufacturing plants in India, Bangladesh, Nepal, Russia, and Poland. 

Inox Wind jumped 6% to ₹184.80, and the renewable energy company reported a surge in profit in the June quarter. 

Revenue increased 85% to ₹651 crore from ₹352 crore, and net income swung to a profit of ₹50 crore from a loss of ₹65 crore a year ago. 

Aurobindo Pharma edged up 1% to ₹1,462.0, and the generic pharmaceutical company reported a strong increase in profit in the June quarter. 

Revenue increased 10.5% to ₹7,567 crore from ₹6,850 crore, and net income jumped 61.3% to ₹918 crore from ₹569 crore a year ago. 

The surge in profit was partly driven by an increase in sales across all key markets. 

Sales in the U.S. increased 13.3% to ₹3,555 crore; in Europe, they advanced 8% to ₹1.982 crore; in other international markets, they soared 49% to ₹709 crore; and in India, they were ₹61 crore. 

Active pharmaceutical ingredient revenue edged up 5.6% from a year ago to ₹1,092 crore. 

Sterling & Wilson Renewable Energy edged up 1.3% to ₹682.35, and the company said in an exchange filing that it won a 550 crore order to design and build a solar power plant project in Rajasthan. 

Trent Ltd advanced 1.3% to ₹6,364.40, and the diversified specialty retailer reported a sharp jump in earnings in the June quarter. 

Revenue in the quarter increased 56% to 4,228 crore to 2,704 crore, and pre-tax income  jumped 133% to 450 crore from 193 crore a year ago. 

The company's grocery-focused Star Bazaar unit with more than 66 stores in 38 cities accounting for roughly 20% of total sales, reported a 29% increase in sales from a year ago, and a 20% rise in comparable store sales.  

The company also operates 228 Westside, a diversified general merchandise stores and 559 Zudio, a discount apparel stores.  

The  company's stock advanced for the fourth session in a row and extended gains to close to 25%.