India Movers: Hindustan Aeronautics, IIFL, Jupiter Wagons, LIC, Mukka Proteins, NLC, Subex, Zomato

Arun Goswami
07 Mar, 2024
Mumbai

LIC decreased 1.5% to ₹1,011.50, and the largest insurance company in India increased its stake in its mutual funds subsidiary. 

LIC increased its stake in LIC Mutual Fund Asset Management to 44.61% from 40.93% through a private placement. 

NLC India decreased 0.1% to ₹226.0, and the central government plans to sell as much as a 7% stake in the coal mining company and raise ₹2,000 crore. 

Hindustan Aeronautics declined 0.2% to ₹3,229.90, and the company said its light combat aircraft Tejas contract has been revised to ₹5,077.95 crore from ₹2,700.87 crore. 

IIFL Finance plunged 20% to ₹382.20 after the Reserve Bank of India banned the company from issuing loans against gold. 

The company said Fairfax India Holdings has agreed to provide $200 million of liquidity after the Reserve Bank's ban. 

Zomato declined 2.6% to ₹161.70, and Morgan Stanley Asia acquired ₹909.5 crore in stake in the online food ordering and delivery company after Antfin sold its stake in the company. 

Tata Motors increased 0.3% to ₹1,025.0, and Moody's Investors Service reaffirmed Tata Motor's corporate debt rating at "Ba3" and issued a positive outlook after the vehicle maker plans to split its passenger and commercial vehicle businesses. 

Subex increased 4.5% to ₹38.0, and the company won an order to provide fraud management and business assurance software for a telecom company in Southeast Asia. 

Jupiter Wagons soared 9.9% to ₹398.0 after the company won a ₹956 crore order to supply 2,237 wagons to the Ministry of Railways. 

Mukka Proteins is set to list its stock on Thursday after the company raised ₹244 crore in an initial public offering and priced its share at ₹28 per share.