India Movers: Aavas Financiers, Bharti Airtel, IRCTC, JM Financial, Mahanagar Gas, NHPC, Wipro, Zomato

Arun Goswami
05 Mar, 2024
Mumbai

Stocks in Mumbai edged lower following the weakness in Asian markets tracking the U.S. market decline in overnight trading.

The Sensex index decreased 0.2% to 73,551.08, and the Nifty index fell 0.3% to 22,294.60.

On the Mumbai stock exchange, 75 stocks traded at their 52-week highs and 34 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds increased to 7.05%, and the Indian rupee strengthened to ₹82.85 against the U.S. dollar.

JM Financial decreased 2.0% to ₹95.50 after the Reserve Bank of India barred the financial broker from providing loans against various financial securities. 

Aavas Financiers increased 1.3% to ₹1,375.95 after Singapore-based Amansa Capital and funds controlled by SBI acquired a stake in the company worth ₹1,186 crore. 

Wipro declined 1.5% to ₹512.95, and the tech services outsourcing company is set to acquire a 27% stake in software-driven vehicle and cloud-based engineering service provider SDVerse LLC by the end of March. 

Mahanagar Gas rose 1.4% to ₹1,563.70, and the natural gas distribution company announced a price reduction of ₹2.50 per kilo for compressed natural gas in the metropolitan Mumbai region. 

Bharti Artel advanced 3.2% to ₹1,169.0 after the company approved the transfer of 56.8 lakh to foreign currency convertible bonds, or FCCB holders, at a price of ₹518 per share. 

IRCTC declined 0.3% to ₹935.50, and the catering company partnered with an online food ordering and delivery company to deliver pre-ordered meals at four railway stations. 

Zomato decreased 2.1% to ₹164.40 after the China-based Alibaba Group's affiliate Antfin Singapore is set to sell a 2% stake in the company in a block deal, according to a report by CNBC TV18. 

Antfin is looking to sell 17.65 crore shares in the online food ordering and delivery company with a floor price of 159.40 per share, a 3.5% discount to the last closing price on Tuesday. 

NHPC increased 1.8% to ₹94.10 after the company launched a solar power plant project in Jalaun, Uttar Pradesh, with an investment of ₹796.9 crore.