India Movers: Hinduja Global, Hindustan Aeronautics, Hindustan Zinc, Spicejet

Arun Goswami
16 Aug, 2024
Mumbai

Market rally in New York powered strong advances in Mumbai and Asian markets amid improving global market sentiment. 

The Sensex index increased by 1.0% to 79,885.57, and the Nifty index rose 0.9% to 24,363.20. 

On the Mumbai stock exchange, 51 stocks traded at their 52-week highs, and 12 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.85%, and the Indian rupee weakened to 83.93 against the U.S. dollar.

Reliance Power increased 2.3% to ₹30.44, and the electric power producer reported net loss narrowed in the June quarter. 

Net revenue increased 6% to ₹2,069.1 crore and net loss narrowed to ₹97.9 crore from ₹296.3 crore a year ago. 

Hindustan Aeronautics advanced 1.3% to ₹4,723.85, and the military aircraft manufacturer reported a rise in net profit and revenue in the June quarter. 

Total revenue increased 18% to ₹5,083 crore from ₹4,325 crore, and net income soared 77% to ₹1,437 crore from ₹814 crore a year earlier. 

Last month, the company's board declared a final dividend of ₹13 per share following the interim cash dividend of ₹22 per share.

Hindustan Zinc declined 6.4% to ₹535.0, and the company's promoter group Vedanta is set to sell a 3.17% stake in the company between August 16 and August 19 at a floor price of ₹486 per share. 

Hinduja Global Solutions decreased 0.3% to ₹727.15, and the tech-enabled business services provider reported weak revenue growth in the June quarter. 

Revenue increased 3.7% to ₹1,091.9 crore, and net income jumped to ₹165.6 crore from ₹14.9 crore a year ago. 

Spicejet decreased 0.6% to ₹54.87, and the discount airline reported a decline in revenue and profit in the June quarter. 

Revenue dropped 14.7% to 1,708 crore from 2,003.6 crore and net income declined 19.9% to 158.2 crore from 197.6 crore a year ago.