Movers: Adani Ports, Bajaj Finance, Dhampur Sugar, IEX, Jio Financial, LIC, ONGC, RVNL

Arun Goswami
04 Jan, 2024
Mumbai

Stocks rebounded in Mumbai trading, powered by a rise in financials and power companies.

The Sensex index decreased 329.62 points to 71,686.22, and the Nifty index eased 91.20 points to 21,608.55.

On the Mumbai stock exchange, 224 stocks traded at their 52-week highs and 5 stocks traded at their 52-week lows.

ONGC increased 2.2% to ₹213.40 after the oil exploration company won 7 of the 10 oil and gas exploration blocks auctioned by the central government.

Oil India, Sun Petrochemicals, and a consortium of Reliance Industries and BP plc won rights to explore one block each.

Adani Ports rose 1.7% to ₹1,112.80, and the company board approved the sale of non-convertible debentures and raised as much as ₹5,000 crore.

Bajaj Finance rose 3.5% to ₹7,647.95 after the company reported a surge in new customers, loan advances, and assets under management in the quarter ending in December.

The company added 38.5 lakh customers to 80 crore, assets under management, up 35% to ₹3.11 lakh crore, and new loans issued surged 26% to 0.98 crore.  

Jio Financial Services rose 1.2% to ₹237.0 after the company and the U.S.-based Blackrock Financial filed an application to launch mutual funds in India.

Indusind Bank rose 2.8% to ₹1,646.0 after the company reported strong loan and deposit growth in the December quarter from the previous quarter.

Loans increased 4% to 3.27 lakh crore, and deposits rose 13% to 3.69 lakh crore.

Maruti Suzuki decreased 0.7% to ₹10,009.80 after the company said it plans to appeal the demand of ₹173.9 crore from the Gujarat GST authority.

Power companies were in focus after NTPC, Power Grid, Torrent Power, and Gujarat Industries Power signed non-binding agreements with the state of Gujarat to build power plants ahead of the launch of the annual Vibrant Gujarat summit.

NTPC increased 3.5% to ₹317.0, Torrent Power soared 10% to ₹1,038.85, Power Grid gained 1.4% to ₹240.90, and Gujarat Industries Power added 2.3% to ₹188.35.

Dhampur Sugar Mills decreased 0.4% to ₹268.60 after the company said it plans to repurchase 10 lakh of its shares at a price of ₹300 per share.

Life Insurance Corporation of India added 0.4% to ₹842.35 after the company received GST collection notices from Telangana, Gujarat, and Uttarakhand totaling ₹667.5 crore.

Indian Energy Exchange gained 2.7% to ₹167.50 after the company said trading volume jumped 16.9% from a year ago to 28,326 million units, or MU.

Electricity trading volume in December rose 8.7% from a year ago to 8,655 MU, and total energy trading volume advanced 14.9% from a year ago to 9,707 MU.

Rail Vikas Nigam gained 0.5% to ₹186.15 after the company signed a preliminary non-binding agreement to finance projects worth as much as ₹35,000 crore over the next five years.