India Movers: Astral, BPCL, BSE, Deepak Nitrite, Embassy Office Parks, Petronet LNG, RVNL, Varun Beverages

Arun Goswami
20 Dec, 2023
Mumbai

Stocks in Mumbai extended their gains amid optimism about economic growth and weakening inflation.

The Sensex index decreased 168.07 points to 71,144.04, and the Nifty index fell 57.75 points to 21,360.25.

On the Mumbai stock exchange, 173 stocks traded at their 52-week highs and 8 stocks traded at their 52-week lows.

Varun Beverages soared 10.2% to ₹1,290.55 after the company said it plans to acquire South Africa-based The Beverage Company Limited for ₹1,320 crore.

The company also plans to invest up to ₹450 crore in building a manufacturing plant in Patratru, Jharkhand.

Bharat Petroleum Corporation, or BPCL, increased 0.9% to ₹453.75 after the company's board approved setting up a polypropylene plant at Kochi refinery for a cost of ₹5,044 crore.

Embassy Office Parks REIT decreased 0.1% to ₹335.21 after a report that Blackstone plans to sell its entire 23.6% stake in the company for $833 million.

Astral Ltd. increased 1.9% to ₹1,945.40 on a CNBC TV-18 report that the company's promoter is looking to sell between 2% and 3% of the 55.85% stake in the company.

Deepak Nitrite Ltd. increased 3.7% to ₹2,373.0 and Petronet LNG rose 0.2% to ₹216.50 after the two companies signed a 15-year contract for hydrogen and polypropylene delivery.

Deepak Nitrite agreed to deliver 250 kilotons a year of polypropylene and 11 kilotons a year of hydrogen to Petronet LNG.

Rail Vikas Nigam gained 0.8% to ₹185.35 after the company's joint venture, with a stake of 49%, won a project worth ₹124 crore for Varkala Sivagiri Railway Station in Kerala.

BSE Ltd. advanced 1.9% to ₹2,445.0, and the financial exchange operator imposed an additional 15% margin requirement for equity derivatives, with the top 10 clients holding a 20% stake.

DOMS Industries soared more than 75% on its first day of trading after the stationary and arts supplies maker priced its initial public offering at ₹790 per share.

The company's initial public offering of ₹1,200 crore was subscribed to 99 times, indicating strong investor demand.