Movers: Bajaj Auto, Flair Writing, ITD Cementation, Kesoram Industries, Mahindra & Mahindra

Arun Goswami
01 Dec, 2023
Mumbai

Stocks in Mumbai advanced after the economy expanded at a faster-than-expected pace in the fiscal second quarter ending in September.

The Sensex index increased 262.28 points to 66,436.58, and the Nifty index rose 122.95 points to 20,012.60.

On the Mumbai stock exchange, 181 stocks traded at their 52-week highs and 8 stocks traded at their 52-week lows.

ITD Cementation India increased 6.5% to ₹286.90 after the civil construction company won an order for the construction of a 500 MW hydropower project worth ₹1,001 crore in Andhra Pradesh.

ONGC rose 0.7% to ₹196.35 and Reliance Industries advanced  0.3% to ₹196.35 after the central government lowered the windfall tax on crude oil by ₹1,300 to ₹5,000 per ton.

The windfall tax on jet fuel was lowered to 1.01 lakh per kiloliter from 1.1 lakh per kiloliter.

Flair Writing Industries traded at ₹452.70 after the office products company listed its stock at ₹503 and priced its initial public offering at ₹304 per share.

Tata Technologies declined 5.9% to ₹1,247.40 on the second day of trading after investors booked profit following the surge in the previous session.

Tata Technologies raised ₹3,040 crore and priced its stock at the upper end of its price range, ₹500 per share.

Gandhar Oil declined 5.4% to ₹283.80 on the second day of its trading after investors took profit following a sharp rise on its debut on stock exchanges.

Gandhar Oil Refinery priced its 500.7 crore offering at 169 per share.

Mahindra & Mahindra declined 0.03% to ₹1,647.10, and the vehicle maker reported a strong rise in sales in November.

Total vehicle sales rose 21% to 70,576 units, and the sale of SUVs jumped 32% to 39,981 units from a year ago, the company said in a filing with the stock exchanges.

Bajaj Auto decreased 0.8% to ₹6,039.05, and the vehicle maker said unit sales jumped 31% from a year ago.

Vehicle sales advanced to 403,003 units from 306,719 units a year ago, despite the worries of a slowdown in rural demand.

Two-wheeler domestic sales jumped 77% from a year ago to 218,597, but exports decreased 6% to 138,630.

H.G. Infra Engineering rose 2.2% to ₹868.40 after the company won a 1,303 crore order from the NHAI for the construction of the Varanasi-Ranchi-Kolkata highway.

Kesoram Industries surged 4.9% to ₹146.35 after the company agreed to sell its cement manufacturing unit valued at an enterprise value of ₹7,600 crore to Ultratech.

Aster DM Healthcare jumped 5% to ₹402.30 a day after the company struck a deal to sell its Middle East operations to a consortium of promoters and a private equity group.