India Movers: Adani Green Energy, Dr. Reddy's, HPCL, Indus Towers, Syngene International, Ultratech Cement, Zee Entertainment

Arun Goswami
24 Jan, 2025
Mumbai

The Sensex and the Nifty indexes barely advanced after a week of trading amid caution ahead of the release of the Union Budget next week. 

The Sensex index decreased by 0.2% to 76,370.52, and the Nifty index fell by 0.3% to 23,161.45.

On the Mumbai stock exchange, 23 stocks traded at their 52-week highs, and 50 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.76%, and the Indian rupee hovered near a record low and traded at 86.25 against the U.S. dollar.

Dr. Reddy's Laboratories Ltd. decreased 0.5% to ₹1,289.35 despite the drugmaker reporting better-than-expected revenue in the December quarter. 

Investors sold stocks on the worry that the company's blockbuster cancer treatment drug, and a key revenue driver in recent quarters, Revlimid, showed a decline in revenue. 

Moreover, Revlimid's patent is expiring in January 2026, and there is no other drug in the pipeline to replace the potential loss in revenue in the coming year. 

Consolidated revenue in the December quarter increased to ₹8,358.6 crore from ₹7,214.8 crore, after-tax profit advanced to ₹1,403.8 crore from ₹1,378.9 crore, and diluted earnings per share rose to ₹16.94 from ₹16.54 a year ago.

Hindustan Petroleum Corporation Ltd. decreased 2.1% to ₹362.20 despite profit jumping more than threefold in the fiscal third quarter. 

Consolidated revenue in the December quarter increased to ₹1,19,501.1 crore from ₹1,19,013.3 crore, net income jumped to ₹2,543.65 crore from ₹712.8 crore, and diluted earnings per share rose to ₹11.94 from ₹3.35 a year ago.

Zee Entertainment Enterprises Ltd. increased 1% to ₹121.80, and the company reported a sharp jump in profit in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹2,013.3 crore from ₹2,073.4 crore, after-tax profit jumped to ₹163.6 crore from ₹58.5 crore, and diluted earnings per share rose to ₹1.70 from 61 paisa a year ago.

Amber Enterprises India Ltd. jumped 7.8% to ₹6,777.15 after the company swung to a profit in the December quarter.

Consolidated revenue in the December quarter advanced to ₹ 2,149.30 crore from ₹1300 crore, net income swung to a profit of ₹37 crore from a loss of ₹0.51 crore and diluted earnings per share swung to ₹10.55 from a loss of 14 paisa a year ago.

Adani Green Energy Ltd. increased 3.1% to ₹1,053.30 after the company reported a sharp jump in profit in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹2,630 crore from ₹2,675 crore, net income jumped to ₹474 crore from ₹256 crore, and diluted earnings per share rose to ₹2.92 from ₹1.42 a year ago.

Ultratech Cement Ltd. increased 1.2% to ₹11,546.05 despite the company reporting a decline in profit in the December quarter.

Consolidated revenue in the December quarter increased to ₹17,437.62 crore from ₹16,880.45 crore, after-tax profit fell to ₹1,473.51 crore from ₹1,774.78 crore, and diluted earnings per share dropped to ₹50.94 from ₹61.61 a year ago.

Indus Towers Ltd. increased 1% to ₹371 despite the company reporting a near three-fold increase in profit in the December quarter after the company received overdue payment from a telecom provider. 

Consolidated revenue in the December quarter advanced to ₹7,631.2 crore from ₹7,297.9 crore, net income jumped to ₹4,003.2 crore from ₹1,540.5 crore, and diluted earnings per share rose to ₹15.17 from ₹5.72 a year ago.

Syngene International Ltd. declined 6.5% to ₹792 despite the contract research organization reporting a strong rise in net income and revenue in the December quarter. 

Consolidated revenue in the December quarter advanced to ₹962 crore from ₹882.8 crore, after-tax profit expended to ₹131.1 crore from ₹111.5 crore, and diluted earnings per share rose to ₹3.26 from ₹2.77 a year ago.