India Movers: ABB India, Bata, Bharti Airtel, NSE, REC Limited, Raymond

Arun Goswami
05 Nov, 2024
Mumbai

Stocks in Mumbai looked down as investors reviewed the latest batch of weak corporate earnings. 

Persistent outflows of foreign funds dented market sentiment for the third week in a row. 

The Sensex index decreased by 0.1% to 78,675.15, and the Nifty index fell by 0.1% to 23,973.35. 

On the Mumbai stock exchange, 92 stocks traded at their 52-week highs, and 15 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 84.12 against the U.S. dollar.

REC Limited decreased 1% to ₹512.95, and the power company plans to raise 6,500 crore through the sale of bonds in two tranches between November 6 and 8. 

The rural electrification plans to raise ₹3,000 crore through the sale of 15-year bonds and 3,500 crore through the sale of ₹3,500 crore. 

Bharti Airtel declined 0.2% to ₹1,588.15 after the company raised 11,150 crore through the sale of bonds with coupon rates ranging between 8.25% and 8.90%. 

ABB India declined 4.5% to ₹7,029.30, and the company reported a sharp jump in earnings in the September quarter. 

Revenue from operations increased 5% to ₹2,912 crore and net income surged 22% to ₹440 crore from a year ago, respectively. 

New orders in the quarter increased 11% from the previous quarter to ₹3,342 crore, and total order backlog advanced 25% from a year ago to ₹9,995 crore. 

National Stock Exchange reported consolidated revenue in the September quarter increased 25% to ₹5,023 crore and net income soared 57% to ₹3,137 crore. 

The average daily trading volume increased 66% from a year ago to ₹1.29 lakh crore, the equity futures segment jumped to ₹2.01 lakh crore, and equity options increased to ₹65,648 crore. 

Raymond Ltd. increased 1.5% to ₹1,711.15 after the company announced its September quarterly results. 

Total income in the fiscal second quarter soared to ₹1,100.70 crore from ₹510 crore, but net income declined 63% to ₹59.01 crore from ₹161.16 crore a year ago. 

Bata India declined 1.4% to ₹1,318.55 after the footwear retailer reported a sharp jump in earnings in the September quarter.

Consolidated revenue increased 2.2% to ₹837.1 crore and net income advanced 53% to ₹52 crore from ₹34 crore a year ago, respectively.