India Movers: Ganesh Housing, ICICI Lombard, SBI Life, Sterlite Technologies, Steel Strips, Tech Mahindra, Wipro

Arun Goswami
20 Jan, 2025
Mumbai

India's benchmark indexes advanced in cautious trading ahead of the Union Budget. 

Investors reacted favorably to the latest quarterly results from Kotak Mahindra and Wipro. 

Tech Mahindra and Jio Financial Services reported weaker-than-expected results in the fiscal third quarter.

The Sensex index increased by 0.5% to 76,970.50, and the Nifty index rose by 0.4% to 23,303.40.

On the Mumbai stock exchange, 94 stocks traded at their 52-week highs, and 64 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.80%, and the Indian rupee traded around a record edge of 86.48 against the U.S. dollar.

Wipro Ltd. advanced 5.1% to ₹299.45 after the company said profit soared 25% in the fiscal third quarter. 

Consolidated revenue in the fiscal third quarter increased to ₹23,322.9 crore from ₹22,803 crore, net income rose to ₹3,366.7 crore from ₹2,700.6 crore, and diluted earnings per share increased to ₹3.20 from ₹2.58 a year ago.

SBI Life Insurance Company Ltd. increased 1.8% to ₹1,540.50 after the company reported a 55% decline in revenue in December quarter results.

Consolidated revenue in the December quarter decreased to ₹18,542.16 crore from ₹38,803.36 crore; after-tax profit expanded to ₹550.82 crore from ₹321.75 crore, and diluted losses per share rose to ₹5.50 from ₹3.21 a year ago.

Sterlite Technologies Ltd. jumped 1.8% to ₹111.55 after the company reported fiscal third quarter results.

Consolidated revenue in the December quarter decreased to ₹1,266 crore from ₹1,341 crore, after-tax losses declined to ₹24 crore from ₹59 crore, and diluted losses per share fell to 47 paisa from ₹1.24 a year ago.

ICICI Lombard General Insurance Company Ltd. increased 2% to ₹1947.15 after the company reported a rise in net income in the December quarter.

Consolidated revenue in the fiscal third quarter increased to ₹5,882.8 crore from ₹5,004.2 crore, net income rose to ₹724.4 crore from ₹431.5 crore, and diluted earnings per share advanced to ₹14.48 from ₹8.73 a year ago.

Supreme Petrochem Ltd. increased 0.9% to ₹653.70 after the company reported a rise in revenue and net income in the December quarter results.

Consolidated revenue in the fiscal third quarter increased to ₹1,422.7 crore from ₹1,187.7 crore, net income rose to ₹713.5 crore from ₹676.7 crore, and diluted earnings per share increased to ₹3.79 from ₹3.60 a year ago.

Steel Strips Wheels Ltd. decreased 3.2% to ₹197.60 after the company reported December quarter results.

Consolidated revenue in the December quarter decreased to ₹1,075 crore from ₹1,112 crore, after-tax profit fell to ₹47.7 crore from ₹59.4 crore, and diluted earnings per share dropped to ₹3.04 from ₹3.79 a year ago.

Tech Mahindra Ltd. decreased 1.8% to ₹1,658.85 after the company said profit soared 89% from a year ago but fell 21% from the previous quarter in the fiscal third quarter.  

Consolidated revenue in the December quarter increased to ₹13,302.1 crore from ₹13,188.8 crore, net income jumped to ₹988.8 crore from ₹523.7 crore, and diluted earnings per share rose to ₹11.08 from ₹5.76 a year ago.

Ganesh Housing Corporation Ltd. increased 6.1% to ₹1,392.30 after the company said profit soared 60% in the fiscal third quarter. 

Consolidated revenue in the December quarter increased to ₹264.1 crore from ₹183.3 crore, net income jumped to ₹160.8 crore from ₹100.5 crore, and diluted earnings per share rose to ₹19.29 from ₹12.06 a year ago.