Movers: Adani Green, Adani Wilmar, Anupam Rasayan, Infosys, Motisons, Muthoot Microfin, Suraj Estates

Arun Goswami
26 Dec, 2023
Mumbai

Stocks in Mumbai opened higher in the final week of 2023, and three companies listed their shares after completing their initial public offerings.

The Sensex index increased 16.98 points to 71,123.94, and the Nifty index rose 26.80 points to 21,376.20.

In the previous week, the Sensex eased 0.2% and the Nifty decreased 0.4%.

On the Mumbai stock exchange, 185 stocks traded at their 52-week highs and 16 stocks traded at their 52-week lows.

Banks, financial services providers, and vehicle makers were among the leading gainers in Tuesday's trading.

The State Bank of India, HDFC Bank, Kotak Mahindra, ICICI Bank, and Axis Bank gained between 0.4% and 0.7%.

Bajaj Auto, Mahindra & Mahindra, Maruti Suzuki, Hero Motocorp, Eicher Motors, Tata Motors, and Ashok Leyland gained between 0.1% and 3.5%.

One 97 Communications Ltd., parent of Paytm, decreased 1.3% to ₹633.50 after the company laid off 1,000 employees.

The company blamed the layoff on the recent tightening of rules by the Reserve Bank of India and the adoption of AI-driven technology tools.

Muthoot Microfin and Suraj Estates traded down compared to their initial public issue prices.

Suraj Estates traded ₹346.15 after pricing its initial public offering at ₹360 per share.

Muthoot Microfin declined to ₹273.14, and the company priced its initial public offering at ₹291 per share.

Motisons Jewellers opened at ₹103.90 and eased to ₹99.25 after the company priced its initial public offering at ₹55 per share.

Infosys declined 1.3% to ₹1,542.50 after the company said it lost a contract with a global client worth $1.3 billion over several years.

Anupam Rasayan Limited declined 0.5% to ₹1,004.0 after the company signed a ₹507 crore contract with a Japanese firm to supply a polymer intermediate for the next nine years.

Adani Green Energy increased 1.6% to ₹1,558.0 after the company signed an agreement to supply 1.8 GW of solar power to the Solar Energy Corporation of India.

With the latest agreement, the company has signed a total of 19.8 GW of power supply agreements.

Adani Wilmar declined 0.5% to ₹363.45, and the promoters plan to sell a 1.24% stake in the company before January 31 to comply with the SEBI requirements.

ONGC increased 1.6% to ₹207.30 after the company's wholly owned subsidiary, ONGC Videsh, plans to raise ₹5,000 crore through the sale of non-convertible bonds and finance its capital expenditure and debt refinancing.