India Movers: Ajanta Pharma, Bharti Airtel, Kfin Technologies, Restaurant Brands Asia, Suzlon Energy, Tata Technologies

Arun Goswami
29 Oct, 2024
Mumbai

Market indexes in Mumbai faced headwinds after a mixed batch of earnings, and foreign investors continued to lighten their holdings. 

The Finance Ministry reiterated its annual economic growth estimate between 6.5% and 7.0%. 

The Sensex index decreased by 0.3% to 79,745.42, and the Nifty index fell by 0.2% to 24,285.10. 

On the Mumbai stock exchange, 33 stocks traded at their 52-week highs, and 33 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to 84.07 against the U.S. dollar.

Bharti Airtel declined 1.6% to ₹1,635.80 after the company reported mixed quarterly results. 

Consolidated revenue in the September quarter increased 8% to ₹41,473 crore from ₹38,506 crore, and net income decreased 12% to ₹4,153 crore from ₹4,717 crore a year ago, respectively. 

Restaurant Brands Asia decreased 1.4% to ₹93.93 after the fast food company reported weak quarterly results. 

Consolidated revenue in the September quarter increased 1.2% to ₹632 crore from ₹625 crore, and net loss expanded to ₹65.4 crore from ₹50.6 crore a year ago, respectively. 

Tata Technologies increased 0.6% to ₹1,005.40 after the company reported a decline in revenue and earnings in the fiscal second quarter. 

Consolidated revenue increased 2.2% to ₹1,296 crore from ₹1,269 crore, and net income decreased 2.9% to ₹157 crore from ₹162 crore a year ago, respectively. 

Kfin Technologies dropped 0.8% to ₹962.25 after the financial service company reported a surge in revenue and earnings in the September quarter. 

Consolidated revenue increased 18% to ₹280 crore from ₹238 crore, and net income rose 31% to ₹89 crore from ₹68 crore a year ago, respectively. 

Suzlon Energy advanced 0.7% to ₹71.35 after the renewable energy company reported a surge in revenue and earnings in the fiscal second quarter. 

Consolidated revenue rose 48% to ₹2,103.4 crore from ₹1,421.4 crore and net income jumped 96% to ₹200.6 crore from ₹102.3 crore a year ago, respectively.

Ajanta Pharma decreased 0.3% to ₹2,913.60 after the generic pharma company reported weaker-than-expected revenue and earnings in the September quarter. 

Consolidated revenue increased 15% to ₹1,187 crore from ₹1.028 crore, and net income advanced 11% to ₹216 crore from ₹195 crore a year earlier, respectively. 

The company also declared an interim dividend of ₹28 per share.