India Movers: Diamines & Chemicals, Dixon Technologies, GCPL, ITC, Indusind Bank, NTPC

Arun Goswami
25 Oct, 2024
Mumbai

Market indexes on Dalal Street declined and extended weekly losses to between 2% and 3% following a batch of weak quarterly results. 

Hindustan Lever, Nestle India, Mahindra & Mahindra, SBI Life, Grasim, and UltraTech Cement were among the leading decliners. 

The Sensex index decreased by 0.5% to 79,699.11, and the Nifty index fell by 0.6% to 24,247.40.

On the Mumbai stock exchange, 96 stocks traded at their 52-week highs, and 166 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.82%, and the Indian rupee eased to 84.07 against the U.S. dollar.

NTPC decreased 1.8% to ₹404.35 after the power company reported mixed quarterly results. 

Consolidated revenue in the September quarter fell 1.3% from a year earlier to ₹45,197.8 crore from ₹45,384.6 crore, and net income rose 14% to ₹5,380 crore. 

ITC Ltd. increased 2.5% to ₹483.25 after the company reported a rise in revenue and earnings in the September quarter. 

Consolidated operating revenue jumped 15.6% from a year ago to 22,281.9 crore, and net income advanced 1.8% to 5,054.4 crore. 

Godrej Consumer Products Ltd. increased 2.5% to ₹1,286.95 after the company reported muted quarterly results in the September quarter. 

Consolidated revenue in the fiscal second quarter increased 1.8% to ₹3,666.3 crore, and net income advanced 13.5% to ₹491.3 crore.

The company also declared a cash dividend payment of ₹5 per share payable on November 23 to shareholders on record on November 1. 

Dixon Technologies Ltd. declined 5.8% to ₹14,189.25 despite the electronic manufacturing service provider reporting a surge in revenue and profit in the September quarter. 

Consolidated revenue in the fiscal second quarter jumped twofold to ₹11,534.08 crore from ₹4,943.18 crore, and net income soared more than threefold to ₹411.7 crore from ₹113.36 crore a year earlier, respectively. 

Indusind Bank plunged 15% to ₹1,088.05 after the bank reported a decline in quarterly profit amid a sharp jump in credit loss provisions. 

Net interest income in the September quarter increased 5% to ₹5,347 crore, and net interest margin eased to 4.08% from 4.29% a year earlier and 4.25% in the previous quarter. 

Net profit plunged 39.5% to ₹1,331 crore from ₹2,202 crore, and gross non-performing asset ratio advanced to 2.11% from 1.93% a year ago, respectively. 

The bank increased its provision for loan losses by a whopping 87% to ₹1,820 crore from ₹974 crore a year ago. 

Diamines & Chemicals dropped 3.4% to ₹491.95  after the company reported a decline in revenue and profit in its latest quarter. 

Consolidated revenue in the September quarter declined 3.7% to ₹19.2 crore from ₹19.9 crore and net income fell 28% to ₹2.5 crore from ₹3.4 crore a year earlier.