Movers: Adani Group, Avenue Supermarts, Hero Motorcorp, Maruti Suzuki, VST

Arun Goswami
03 Jan, 2024
Mumbai

Stocks on Dalal Street declined for the second day on the worries of a rebound in inflation after the transport workers' strike entered its second day.

The Sensex index decreased 610.37 points to 71,661.31, and the Nifty index eased 159.50 points to 21,582.40.

On the Mumbai stock exchange, 207 stocks traded at their 52-week highs and 12 stocks traded at their 52-week lows.

Adani Group stocks were in focus after the Supreme Court refused to interfere with the SEBI investigative authorities.

The highest court in the nation also rejected the U.S.-based short seller Hindenburg's request to refer the case to the CBI.

The Supreme Court asked the SEBI to complete its investigation in the allegation in the next three months. 

The court also asked the Government of India and the SEBI to investigate the short-seller Hindenburg and fine the company if found to violate any Indian laws.

Adani Enterprises jumped 3.6% to ₹3,040.0, Adani Ports gained 2.9% to ₹1,109.20, Adani Power advanced 4.2% to ₹540.0, and Adani Wilmar increased 4.4% to ₹382.65.

Hero Motocorp declined 2.8% to ₹3,999.0 after the company reported total vehicle sales in December fell 0.1% from a year ago to 393,952 units and motorcycle sales eased 0.6% from a year ago to 354,658 units.

Maruti Suzuki decreased 1.1% to ₹10,084.05 after the vehicle maker reported weaker-than-expected sales in December.

Total passenger vehicle sales declined to 119,518 from 124,135 and passenger car sales fell to 64,802 from 86,582 a year ago, respectively.

Avenue Supermarts declined 3.9% to ₹3,972.40 after the retailer said standalone revenue in the third quarter rose 17.2% from a year ago to ₹13,247 crore.

VST Industries jumped 0.3% to ₹4,072.10 after mutual funds controlled by the State Bank of India and investor Radhakrishnan Damani increased their stakes in the cigarette maker through open market transactions.

The Hyderabad-based VST is an affiliate company of British American Tobacco, which controls about 32% of the company.