Movers: Adani Group, Eicher Motor, Jindal Stainless, Maruti Suzuki, Newgen Software, SAIL, Satin Creditcare

Arjun Pandit
28 Nov, 2023
Mumbai

India stocks lacked direction, but Adani Group stocks advanced after the Supreme Court agreed with the earlier findings submitted by SEBI.

The Sensex index decreased 15.51 points to 65,954.51, and the Nifty index rose 19.10 points to 19,811.95.

On the Mumbai stock exchange, 185 stocks traded at their 52-week highs and 22 stocks traded at their 52-week lows.

Adani Group stocks jumped after the Supreme Court said on Friday it did not find any reason to question the probe conducted by the Securities and Exchange Board of India.

The statement effectively ended the request to monitor the company's finances on a long-term basis.

Earlier, the SEBI committee confirmed in a report that it did not find any violation of money transfer from offshore entities, breaking of disclosure rules, or "evidence pattern of manipulation."

Adani Power, Adani Enterprises, and Adani Wilmar jumped 9%, Adani Port & Special Economic Zone advanced 6%, and Adani Total Gas soared 18%.

Maruti Suzuki India advanced 0.2% to ₹10,533.20 after the vehicle maker said it plans to increase prices from January 2024, citing increased cost pressure driven by higher commodity prices.

The Steel Authority of India gained 0.6% to ₹89.80 after the steel product maker said it plans to increase the prices of rails for the Indian Railways due to higher commodity prices.

Eicher Motors decreased 0.5% to ₹3,828.75, and the company launched a new motorbike with a starting price of ₹2,69,000.

Newgen Software Technologies advanced 4.7% to ₹1,343.0 after the company announced a 1-to-1 bonus issue to shareholders on record on January 12, 2024.

Satin Creditcare Network increased 1.4% to ₹246.35 after the company said its board is scheduled to meet on November 30 to discuss the sale of stock or debenture and raise capital. 

Jindal Stainless decreased 2.3% to ₹530.55, and a committee of board members approved the closure of its Indonesian subsidiary.