India Movers: Adani Wilmar, GTPL Hathway, IRDEA, Mahanagr Gas, Phoenix Mills, Polypex Corp, TCS

Arun Goswami
10 Jan, 2025
Mumbai

The first batch of corporate earnings offered a mixed view of the economic landscape, and investor sentiment remained cautious amid weak earnings growth expectations. 

The Sensex index decreased by 0.5% to 77,211.94, and the Nifty index fell by 0.7% to 23,368.20. 

On the Mumbai stock exchange, 34 stocks traded at their 52-week highs, and 192 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.81%, and the Indian rupee traded around a record low of 85.87 against the U.S. dollar.

Tata Elxsi Ltd. declined 6.7% to ₹6,007 after the company reported weaker-than-expected December quarter results. 

Mahanagar Gas Ltd. increased 0.3% to ₹1,274.40 after the company secured a 26% increase in domestic gas allocation. 

Polyplex Corp. Ltd. decreased 2.7% to ₹1,314.75, and the company announced a ₹558 crore investment plan to manufacture polyester film used in food packaging. 

IREDA fell 2.8% to ₹210.0, despite the company reporting a 27% increase in profit in the fiscal third quarter ending in December. 

Adani Wilmar Ltd. decreased 8.9% to ₹295.45 as Adani Group plans to sell a 20% stake in the company in an open offer with a floor price of ₹275 per share. 

GTPL Hathway Ltd. declined 9% to ₹134.75 after the internet service provider reported a 57% plunge in earnings in its fiscal third quarter. 

TCS gained 4.5% to ₹4,220.40 after the business and technology service provider said fiscal third quarter profit increased 12% from a year ago to ₹12,380 crore. 

The operating revenue increased 5.6% to ₹63,973 crore from ₹60,583 in the quarter a year ago. 

The company's Board of Directors announced a cash dividend of ₹76 per share, including a special dividend of ₹66 per share.

Phoenix Mills Ltd. advanced 1.2% to ₹1,659.75 after the real estate company reported a strong rise in consumption at its malls in the fiscal third quarter. 

Retail sales at the company-operated malls increased 21% from a year ago to ₹3,998 crore, and occupancy was 69% at the end of 2024. 

The St. Regis Mumbai's occupancy rate in the quarter increased to 84% from 82%, and the average room rate increased by 11% to ₹22,343, and revenue per available room advanced 15% to ₹18,855.