Search
  • Li Chen
  • 23 Jan, 2025
  • Mumbai

Stock market indexes in China and Hong Kong diverged after the financial regulator announced a pilot program to bolster markets. 

The Hang Seng index erased morning gains of as much as 1% to trade lower by 0.4%, and the mainland-focused CSI 300 index jumped 1% following an announcement by the CSRC. 

The China Securities Regulatory Commission announced a pilot program to invest 30% of annual new insurance premiums in China's onshore markets, potentially boosting prices of large-cap companies. 

The pilot program starting this year would see an annual increase of 10% over the next three years, said Wu Qing, chairman of CSRC, at a press conference held in Beijing on Thursday. 

The regulator said about 100 billion yuan, or about $14 billion, will be invested in the first half of this year, including about half of the funds before the start of Lunar New Year on January 29.

 

China Stock Movers 

The Hang Seng index decreased 0.4% to 19,705.52, but the mainland-focused CSI 300 index rose 1% to 3,835.34. 

Ping An increased 1.8% to HK $42.70, China Life advanced 2.2% to HK $14.04, and AliHealth gained 0.7% to HK $3.15. 

Leading tech companies advanced after the regulatory announcement to divert insurance premiums into large-cap stocks over the next three years. 

Tencent Holdings decreased 0.5% to HK $380.40, JD.com fell 0.5% to HK $150.40, and Alibaba Group Holdings rose 0.6% to HK $82.70. 

Tencent and JD.com edged up nearly 1% in the early trading but erased gains near the close of the regular trading hours. 

Fuling Technology soared more than 360% to 24.05 yuan after the disposable tableware company priced its initial public offering and lifted its shares on the Shenzhen Stock Exchange. 

The company sold 147.33 million shares and raised 781 million, or $108.7 million, after pricing its shares at 5.30 yuan. 

  • Arun Goswami
  • 23 Jan, 2025
  • Mumbai

Stock market indexes in Mumbai gained, and investors reacted to the latest batch of earnings. 

Investors are hoping that the central government's upcoming budget will focus on modernizing railways and improving the supply of stable electric power and water in smaller cities.

The Sensex index increased by 0.21% to 76,590.45, and the Nifty index advanced by 0.2% to 23,200.90.

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

HDFC Bank Ltd. increased 1.4% to ₹1,665.05 despite the financial services provider reporting a decline in revenue in the December quarter.

Consolidated revenue in the December quarter decreased to ₹1,12,193.9 crore from ₹1,15,015.5 crore, after-tax profit rose to ₹17,656.6 crore from ₹17,257.8 crore, and diluted earnings per share advanced to ₹23 from ₹22.65 a year ago.

Gravita India Ltd. declined 0.6% to ₹2,174.05 despite the company reporting a 32% surge from a year ago in the December quarter revenue.

Consolidated revenue in the December quarter increased to ₹1,025.28 crore from ₹773.21 crore, net income jumped to ₹78.1 crore from ₹61.5 crore, and diluted earnings per share rose to ₹11.35 from ₹8.74 a year ago

Rattanindia Power Limited jumped 1.8% to ₹12.78 after the company swung to a profit despite a decrease in revenue in the latest quarter.

Consolidated revenue in the December quarter decreased to ₹824.2 crore from ₹888.3 crore, net income swung to a profit of ₹4.3 crore from a loss of ₹587 and diluted earnings per share swung to 0.01 paisa from a loss of ₹1.09 a year ago.

Bharat Petroleum Corporation Ltd. increased 2.5% to ₹284.70 and the petroleum products distribution company reported an increase in net income in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹1,28,158.36 crore from ₹1,30,475.59 crore, net income jumped to ₹3,805.94 crore from ₹3,181.42 crore, and diluted earnings per share rose to ₹8.91 from ₹7.47 a year ago.

The company declared interim dividend of ₹5 per share.

Elecon Engineering fell 2% to ₹540 despite the company reporting an increase in revenue and earnings in the fiscal third quarter. 

Consolidated revenue in the December quarter increased to ₹544.5 crore from ₹483.5 crore, net income advanced to ₹107.5 crore from ₹90.4 crore, and diluted earnings per share rose to ₹4.79 from ₹4.03 a year ago.

Wendt (India) Ltd. dropped 7% to ₹13,957.35 after the company reported a decline in quarterly revenue and earnings. 

Consolidated revenue in the December quarter declined to ₹55.32 crore from ₹56.32 crore, after-tax profit fell to ₹8.22 crore from ₹9.60 crore, and diluted earnings per share decreased to ₹41.10 from ₹47.96 a year ago

  • Arun Goswami
  • 23 Jan, 2025
  • Mumbai

Stock market indexes in Mumbai gained, and investors reacted to the latest batch of earnings. 

Investors are hoping that the central government's upcoming budget will focus on modernizing railways and improving the supply of stable electric power and water in smaller cities.

The Sensex index increased by 0.21% to 76,590.45, and the Nifty index advanced by 0.2% to 23,200.90.

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

HDFC Bank Ltd. increased 1.4% to ₹1,665.05 despite the financial services provider reporting a decline in revenue in the December quarter.

Consolidated revenue in the December quarter decreased to ₹1,12,193.9 crore from ₹1,15,015.5 crore, after-tax profit rose to ₹17,656.6 crore from ₹17,257.8 crore, and diluted earnings per share advanced to ₹23 from ₹22.65 a year ago.

Gravita India Ltd. declined 0.6% to ₹2,174.05 despite the company reporting a 32% surge from a year ago in the December quarter revenue.

Consolidated revenue in the December quarter increased to ₹1,025.28 crore from ₹773.21 crore, net income jumped to ₹78.1 crore from ₹61.5 crore, and diluted earnings per share rose to ₹11.35 from ₹8.74 a year ago

Rattanindia Power Limited jumped 1.8% to ₹12.78 after the company swung to a profit despite a decrease in revenue in the latest quarter.

Consolidated revenue in the December quarter decreased to ₹824.2 crore from ₹888.3 crore, net income swung to a profit of ₹4.3 crore from a loss of ₹587 and diluted earnings per share swung to 0.01 paisa from a loss of ₹1.09 a year ago.

Bharat Petroleum Corporation Ltd. increased 2.5% to ₹284.70 and the petroleum products distribution company reported an increase in net income in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹1,28,158.36 crore from ₹1,30,475.59 crore, net income jumped to ₹3,805.94 crore from ₹3,181.42 crore, and diluted earnings per share rose to ₹8.91 from ₹7.47 a year ago.

The company declared interim dividend of ₹5 per share.

Elecon Engineering fell 2% to ₹540 despite the company reporting an increase in revenue and earnings in the fiscal third quarter. 

Consolidated revenue in the December quarter increased to ₹544.5 crore from ₹483.5 crore, net income advanced to ₹107.5 crore from ₹90.4 crore, and diluted earnings per share rose to ₹4.79 from ₹4.03 a year ago.

Wendt (India) Ltd. dropped 7% to ₹13,957.35 after the company reported a decline in quarterly revenue and earnings. 

Consolidated revenue in the December quarter declined to ₹55.32 crore from ₹56.32 crore, after-tax profit fell to ₹8.22 crore from ₹9.60 crore, and diluted earnings per share decreased to ₹41.10 from ₹47.96 a year ago