India Movers: Andhra Cements, Canara Bank, Grauer & Weil, Hind Rectifiers, MCX, Paytm, TVS Motor

Arun Goswami
26 Feb, 2024
Mumbai

Stocks in Mumbai meandered in early trading, and bond yields held firm as investors debated future rate paths and stretched market valuation. 

The Sensex index decreased 66.60 points to 72,723.53, and the Nifty index fell 31.85 points to 22,090.20. 

On the Mumbai stock exchange, 187 stocks traded at their 52-week highs and 11 stocks traded at their 52-week lows.

One 97 Communication, the parent company of Paytm, increased 4.5% to ₹449.0 after the company said Paytm Payments Bank plans to reorganize its board and the company founder, Vijay Shekhar Sharma, has resigned from the bank's board. 

Canara Bank advanced 1% to ₹577.30 after the company announced a 1-to-5 stock split plan. 

Andhra Cements decreased 3.5% to ₹106.40, and the company's promoter, Sagar Cement, plans to sell a 5% stake in the company.

The company's promotor plans to sell its stake through an open offer for sale on February 27 and 28, with a set floor price of ₹90 per share. 

TVS Motor Company decreased 0.1% to ₹2,154.20 after the company's Singapore subsidiary plans to raise its stake in electric vehicle component maker Killwatt GmbH to 49% from 39.3% for ₹35 crore, or 4 million euros. 

MCX increased 2.2% to ₹3,745.20 after the commodity exchange operator signed a collaboration agreement with Indonesia's largest commodity exchange, Jakarta Futures Exchange. 

Hind Rectifiers soared 10% to ₹618.25 after the company received a ₹200 crore order from the Indian Railways. 

Power Mech Projects jumped 1.5% to ₹5,284.0 after the company received a 396 crore order from South East Central Railway.   

Grauer & Weil gained 1.9% to ₹198.0 after the company's board approved a 1-to-1 stock bonus.