India Movers: Godavari Refineries, IRB Developers, Larsen & Toubro, Tata Power

Arun Goswami
31 Oct, 2024
Mumbai

Stocks in Mumbai struggled to advance as foreign investors continued to trim their holdings amid a batch of mixed earnings. 

Global investors dialed down aggressive rate-cut expectations after the U.S. and the eurozone reported third quarter GDP growth rates.

The Sensex index decreased by 0.2% to 79,780.81, and the Nifty index fell by 0.1% to 24,309.45. 

On the Mumbai stock exchange, 56 stocks traded at their 52-week highs, and 11 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 84.08 against the U.S. dollar.

Larsen & Toubro increased 0.6% to ₹3,402.0 after the infrastructure services provider reported September quarter results. 

Consolidated income increased to ₹62,655.85 crore from ₹52,157.02 crore, and net income advanced 5% to ₹3,395 crore.

Tata Power increased 0.4% to ₹431.85 after the company reported a net income increase for the 20th quarter in a row. 

Consolidated revenue in the September quarter increased to ₹16,210.80 crore from ₹16,029.5 crore, net income advanced to ₹1,093.08 crore from ₹1,014.4 crore, and diluted earnings per share rose to ₹2.90 from ₹2.74 from a year earlier. 

The company said its order inflow in the solar EPC unit swelled to ₹15,900 crore. 

Godavari Biorefineries traded at ₹343.90, and the company listed its share at ₹308 and priced its offering at ₹352 per share, respectively. 

IRB Infrastructure Developers declined 2% to ₹52.90 after the company reported a decline in revenue in the September quarter. 

Consolidated revenue decreased to ₹1,751.16 crore from ₹1,874.50 crore, and net income rose 4% to ₹99.86 crore from a year earlier, respectively.