Market Updates

India Movers: ABB India, Devyani International, Hindalco, TVS Supply Chain, Union Bank of India, Zee Entertainment

Arun Goswami
20 Feb, 2024
Mumbai

    Stocks in Mumbai advanced in early trading, and bond yields held firm as investors await the release of the latest monetary policy meeting minutes later in the week. 

    The Sensex index increased 15.22 points to 73,072.62, and the Nifty index rose 6.55 points to 22,203.50.  

    On the Mumbai stock exchange, 177 stocks traded at their 52-week highs and 4 stocks traded at their 52-week lows.

    Devyani International increased 0.6% to ₹166.20, and Yum Restaurant India plans to sell a 4.4% stake in the company in a block deal with a floor price of 153.50 per share. 

    Zee Entertainment rose 6.6% to ₹190.40 after the company was said to revive its deal with Sony Group. 

    A new report, without citing sources, suggested that the company promoters may have diverted as much as ₹2,000 crore from the company, about ten times more than previously estimated, according to a revised estimate by the SEBI investigation. 

    Hindalco Industries gained 0.05% to ₹512.0, and the group company's U.S.-based subsidiary Novelis flied to list its stock in New York. 

    TVS Supply Chain Solutions increased 3.6% to ₹197.0 after the company signed a contract extension with Rolls Royce for a parts distribution center in Singapore until 2029. 

    Union Bank of India increased 0.03% to ₹141.20, and the company's board approved a plan to raise ₹3,000 crore. 

    ABB India gained 0.9% to ₹4,528.85 after the company reported positive quarterly results. 

    Revenue in the December quarter rose 35% to ₹2,757 crore, and after-tax income advanced 13% to ₹345 crore from a year ago, respectively. 

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