India Movers: Adani Ports, Ashoka Buildcon, PetroNet, Power Grid, SJVN, NTPC, Zomato

Arun Goswami
08 Feb, 2024
Mumbai

Stocks in Mumbai advanced, and bond yields held firm ahead of the interest rate decisions.

The Reserve Bank of India is expected to hold rates steady, and investors are hoping that the central bank may signal a possible rate cut as early as in the second half of this year.

The Sensex index increased 321.42 points to 72,473.42, and the Nifty index gained 79.15 points to 22,009.85.

On the Mumbai stock exchange, 194 stocks traded at their 52-week highs and 5 stocks traded at their 52-week lows.

Adani Ports and SEZ declined 0.3% to ₹1,259.15, and the company won a bid to operate a container terminal at Tanzania's main port, Dar Es Salaam.

Adani will operate the larger of the two terminals, with a capacity of 660,000 twenty-foot equivalent units of containers.

Zomato gained 1.9% to ₹143.05 after the delivery service provider confirmed the closing of its businesses in the Czech Republic and Vietnam.

PetroNet LNG added 0.4% to ₹283.95 after the company completed a long-term purchase agreement of 7.5 MMTPA liquified natural gas with Qatar Energy.

Ashoka Buildcon fell 5.8% to ₹181.30 after the company won a project from the National Highway Authority of India in Bihar.

SJVN rose 4.7% to ₹153.80 after the company won a project to set up a 200 MW solar power plant worth 1,100 crore from Gujarat Urja Vikas Nigam. 

NTPC advanced 0.5% to ₹332.45 after the company signed an agreement with ONGC to set up offshore wind energy projects.

Separately, the company said it plans to raise as much as $750 million through the sale of debt from foreign investors. 

Power Grid rose 5.2% to ₹281.75 after the company released its latest quarterly results.

Total revenue in the December quarter increased to ₹11,819.70 crore from ₹11,530.22 in the quarter a year ago. 

Consolidate net profit in the December quarter rose 10.5% to ₹4,028.50 crore from ₹3,645.29 crore, and diluted earnings per share rose to ₹4.33 from ₹3.92 a year ago. 

Company also announced its second interim dividend of ₹4.50 per share to be paid on March 5.