India Movers: Balrampur Chini, CIE Automotive, Morepen, NBCC, Oriental Rail Infra, PowerGrid

Arun Goswami
20 Feb, 2024
Mumbai

Stocks in Mumbai traded in a tight range after the end of the  earnings season last week, and bond yields held steady amid the weakness in markets in Europe and Asia. 

The Sensex index decreased 73.10 points to 72,634.99, and the Nifty index fell 44.55 points to 22,077.70.

On the Mumbai stock exchange, 178 stocks traded at their 52-week highs and 2 stocks traded at their 52-week lows.

Balrampur Chini Mills declined to ₹387.50, and the company said it plans to invest about ₹2,000 crore over the next 30 months in the manufacturing of ply lactic acid. 

CIE Automotive declined 1.7% to ₹475.05 despite the company swinging to a profit in its latest quarterly results. 

Net income in the December quarter swung to a profit of 169 crore from a loss of 658 crore a year ago. 

Oriental Rail Infrastructure rose 1.3% to ₹264.10 ahead of the company's board meeting on February 22. 

The board plans to review the allotment of 50.6 lakh shares and 75 lakh warrants convertible to shares at a price of 169 per share. 

Morepen Labs jumped 0.8% to ₹54.55, and the company board is scheduled to meet on February 22 to discuss various fund-raising plans. 

ESAF Small Finance Bank jumped 0.1% to ₹64.90, and the company board is scheduled to meet on February 23 to review a proposal to issue non-convertible debentures through private placement. 

NBCC advanced 1.1% to ₹142.95 after the company secured orders worth ₹3,690 crore. 

Whirlpool of India decreased 3% to ₹142.95 ahead of the company's parent Whirlpool's Corporation's sale of a stake in the company through a block trade. 

The company plans to sell 3.04 crore shares in a bock trade at a price of ₹1,230 crore per share today, according to a report. 

Power Grid Corporation rose 3.2% to ₹286.65 after the company's board approved the investment of 656 crore in two power projects. 

The Northern Region project is expected to be completed by November 2025 at a cost of 525 crore and the installation of a transformer at Bhiwani, Haryana by November 2025 at a cost of 141 crore.