India Movers: Bajaj Auto, Crisil, GMR Airports, Kolte-Patil, L&T Technology, Reliance Industries

Arun Goswami
17 Oct, 2024
Mumbai

Investors reviewed the latest batch of mixed earnings results and corporate announcements. 

The Sensex index decreased by 0.4% to 81,200.98, and the Nifty index fell by 0.5% to 24,836.45. 

On the Mumbai stock exchange, 196 stocks traded at their 52-week highs, and 21 stocks traded at their 52-week lows.

Bajaj Auto declined 8.5% to ₹10,624.30 after the vehicle maker reported weaker-than-expected September quarter results. 

Standalone revenue in the fiscal second quarter increased ₹13,512 crore from 11,138 crore, net income rose to ₹2,005 crore from ₹1,836 crore, and diluted earnings per share rose to ₹71.9 from ₹64.9 a year ago. 

Net income was impacted by the one-time deferred-tax item of ₹211.26 crore in the current quarter. 

L&T Technology Services declined 1.4% to ₹5,294.70 after the company reported weak growth in its consolidated profit. 

Revenue in the fiscal second quarter ending in September increased 7.8% to ₹2,639 crore from 2,427 crore, and net income attributable to shareholders advanced to 291 crore from 278 crore, and diluted earnings per share increased to 30.12 from 29.76 a year ago. 

The company also announced an interim dividend payment of ₹17 per share. 

Crisil increased 4.5% to ₹5,011.15 after the rating agency reported better-than-expected fiscal second quarter results. 

Revenue in the September quarter increased to ₹833.2 crore from ₹771.8 crore, comprehensive net income rose to ₹183.1 crore from ₹175.8 crore, and diluted earnings per share rose to ₹23.24 from ₹20.76 a year ago. 

The company declared an interim cash dividend of ₹15 per share, higher than the dividend payment of ₹11 declared a year ago. 

Kolte-Patil Developers advanced 13% to ₹443.50 after the company reported record quarterly sales in the September quarter. 

Revenue increased 22% from a year ago to ₹770 crore, and sales per square foot realization increased 16% to ₹7,472 crore from ₹6,426 crore a year ago.

The luxury residential project 24K in Bengaluru generated about 25% of total gross booking revenue. 

Gross collection in the quarter increased 16% to ₹550 crore from ₹472 crore a year ago. 

GMR Airports decreased 2.7% to ₹87.23, and the company released September traffic data. 

The total number of passengers handled at all airports increased 9% to 1.02 crore, driven by a 7.5% increase in domestic passengers and a 12% rise in international passengers. 

Reliance Industries increased 0.7% to ₹2,727.70, and the company set the 1-to-1 bonus issue date of October 28.