India Movers: Anupam Rasayn, Ashiana Housing, DroneAcharya, HCL Tech, JSW Energy, NALCO, Olectra, UltraTech

Arun Goswami
03 Apr, 2024
Mumbai

Stocks in Mumbai faced headwinds in early trading on the worry of resurgent inflation after metal prices advanced and crude oil prices traded at a five-month high.

The Sensex index decreased 0.2% to 73,757.23, and the Nifty index edged down 0.3% to 22,385.70. 

On the Mumbai stock exchange, 33 stocks traded at their 52-week highs and 3 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds held steady at 7.10%, and the Indian rupee held steady at ₹83.35 against the U.S. dollar. 

UltraTech Cement rose 1% to ₹10,057.0, and the company reiterated its plans to increase its annual cement production capacity to 200 million tons. 

The company also said it plans to invest ₹32,400 crore over the next three years to achieve its production goals. 

JSW Energy rose 4.3% to ₹542.0, and the company's board approved an institutional equity offering to raise as much as ₹5,000 crore with a floor price of ₹510.09 per share. 

HCL Technologies declined 1.6% to ₹1,531.95 after the company agreed to sell its 49% stake in a joint venture with the U.S.-based State Street for $172.5 million. 

DroneAcharya Aerial Innovation gained 6.8% to ₹150.55 after the company received an order worth ₹4.7 crore for geographical information processing from a UK-based company. 

Anupam Rasayan gained 0.5% to ₹884.60 after the company signed an agreement with a leading Japanese company to supply two intermediate chemicals using fluorination technology. 

The $90 million, or ₹713 crore, contract spans seven years. 

Olectra Greentech increased 0.1% to ₹1,916.95 after the company extended its contract with the China-based BYD Auto Industry for manufacturing and maintaining electric buses till the end of 2030.

National Aluminium Co. or Nalco gained 2.5% to ₹170.40 after the company reported record cast metal production and sales and record bauxite excavation in the fiscal year 2024 ending in March. 

The aluminium production rose to 0.46  million tons and sale increased to 0.47 million tons and bauxite excavation increased to 7.6 million tons. 

Ashiana Housing advanced 2.4% to ₹309.10 after the company announced the sale of all 224 residential units located in Gurugram, Haryana valued at ₹440.3 crore.