Movers: Axis Bank, KIOCL, Mankind Pharma, Max Healthcare, Paul Merchants, SRF

Arun Goswami
13 Dec, 2023
Mumbai

Stocks in Mumbai traded down after consumer price inflation rebounded in November, and investors overlooked the 4% decline in international crude oil prices.

The Sensex index decreased 111.51 points to 69,439.53, and the Nifty index fell 39.75 points to 20,866.50.

On the Mumbai stock exchange, 171 stocks traded at their 52-week highs and 7 stocks traded at their 52-week lows.

In Wednesday's trading, tech services exporters were among the leading decliners, and automakers and consumer product makers led the gainers.

TCS, Infosys, Wipro, and Tech Mahindra declined between 1% and 2.5%.

HDFC Bank, Kotak Mahindra, and the State Bank of India declined by around 0.3%.

Mankind Paharma rose 0.1% to ₹1,855.90, and three private equity firms sold 7.9% stakes in the company worth ₹5,589 crore.

Max Healthcare Institute rose 1.5% to ₹710.35 and extended gains for the fifth day in a row after the company agreed to acquire Lucknow-based 550-bed Sahara Hospital for ₹940 crore.

Paul Merchants rose 2.0% to ₹3,755.05 after the company board is scheduled to meet on December 20 to consider a stock bonus issue.

Axis Bank declined 1% to ₹1,119.35 on a report that the private equity firm Bain Capital is looking to sell a 1% stake in the company.

KIOCL declined 1.3% to ₹366.45 after the iron ore mining company halted processing at its Mangalore plant due to the lack of availability of iron ore fines.

SRF Ltd. advanced 0.8% to ₹2,398.0 after the maker of specialty intermediate chemicals said it had commissioned two of the four manufacturing plants.

The company's investment in two plants has been capitalized at ₹255 crore.