India Movers: HDFC Bank, Kotak Mahindra, MCX, Oberoi Realty, RBL Bank, Tata Consumer Products, UCO Bank

Arun Goswami
21 Oct, 2024
Mumbai

In cautious trading, market indexes in Mumbai traded higher as investors reviewed the latest earnings from leading banks. 

In a busy week of earnings, investors are looking forward to quarterly results from about 400 companies this week. 

The Sensex index decreased by 0.2% to 81,069.10, and the Nifty index fell by 0.4% to 24,759.35. 

On the Mumbai stock exchange, 124 stocks traded at their 52-week highs, and 28 stocks traded at their 52-week lows.

HDFC Bank increased 2% to ₹1,715.0 after the company reported its September quarterly results. 

Net interest income in the fiscal second quarter rose 9.9% to ₹30,107.90 crore, and net income advanced 5.3% to ₹16,821 crore from a year ago. 

Gross NPA (non-performing assets) increased to 1.3%, and net NPA advanced to 0.41%. 

The company said it plans to raise as much as ₹10,000 crore through the sale of a stake in a public offering of HDFC Financial Services. 

Kotak Mahindra declined 2.7% to ₹1,819.95, and the financial service company reported weaker-than-expected quarterly results. 

Net interest income in the September quarter increased 11.5% to 7,019.6 crore, and net income rose 4.8% to 3,343.7 crore. 

Gross NPA increased to 1.49%, and net NPA advanced to 0.43%. 

RBL Bank decreased 0.6% to ₹193.0 after the financial services company reported weaker-than-expected quarterly results. 

Net interest income in the September quarter increased 9% to ₹1,615 crore from ₹1.475 crore and net income dropped 24% to ₹223 crore from ₹294.1 crore a year ago. 

Gross NPA increased to 2.88%, and net NPA advanced to 0.79%. 

UCO Bank advanced 4.5% to ₹4₹7.75 after the financial service company reported strong gains in revenue and earnings in the September quarter. 

Net interest income in the fiscal second quarter increased 20% to₹2,300.4 crore from ₹1,916.5 crore, and net income soared 50% to ₹602.7 crore from ₹401.7 crore a year ago. 

The bank's net interest margin, or NIM, in the quarter improved to 3.10% from 2.84% a year ago and rose in the first half to 3.09% from 2.92% a year ago. 

MCX increased 0.7% to ₹6,630.0 after the commodity exchange operator reported quarterly results. 

Revenue in the September quarter increased to ₹310.8 crore from ₹180.0 crore, net income swung to a profit of ₹153 crore from a loss of ₹19 crore, and diluted earnings per share improved to ₹30.12 from a loss of ₹3.74 a year ago. 

Tata Consumer Products dropped 9.9% to ₹988.25 after the food product maker reported weak quarterly results. 

Revenue in the fiscal second quarter increased 13% from a year ago to ₹4,215 crore and net income advanced 1% to ₹367  crore.  

Oberoi Realty Ltd. increased 2.7% to ₹1,979.50 after the residential real estate developer reported better-than-expected quarterly results. 

Revenue in the September quarter increased 8.4% to ₹1.320 crore from ₹1,217 crore and net income advanced 29% to ₹589 crore from ₹457 crore a year ago.