India Movers: Avenue Supermarts, KEC International, Federal Bank, GE Power, Power Finance, RBL Bank, Vodafone Idea, Union Bank

Arun Goswami
04 Apr, 2024
Mumbai

Stocks in Mumbai struggled for the second day in a row after higher commodity prices posed additional risks to inflation and the interest rate outlook. 

The Sensex index decreased 0.03% to 73,876.83, and the Nifty index edged down 0.08% to 22,434.65. 

On the Mumbai stock exchange, 194 stocks traded at their 52-week highs and 17 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 ₹83.49 against the U.S. dollar.

Vodafone Idea increased 1.1% to ₹13.60 after the company scheduled a board meeting to review a proposal to issue preferred stock or convertible securities to promoter groups worth ₹2,075 crore. 

Power Finance jumped 2.5% to ₹417.60, and the company paid a record ₹2,033 crore in interim dividends to the central government. 

Union Bank of India rose 0.6% to ₹157.80, and the company said it raised $500 million, or ₹4,200 crore, with the help of its Dubai-based office. 

RBL Bank Ltd. increased 1.1% to ₹253.30, and the company said its loans outstanding and deposits rose in the March quarter from a year ago. 

Loans advanced rose 22% to ₹1.03 trillion, or lakh crore, and deposits rose 19% to ₹85,640 crore from a year ago, respectively. 

Federal Bank increased 0.5% to ₹154.75 after the bank said its loan portfolio and deposit base increased in the March quarter. 

Outstanding loans increased by 20% to 2.13 trillion or lakh crore, and total deposits rose by 18% to ₹2.52 trillion or lakh crore from a year ago, respectively. 

GE Power India soared 10.1% to ₹334.60 after the company won an order worth 774.9 crore from Jaiprakash Power. 

Avenue Supermarts gained 1.2% to ₹4,465.0 after the grocery retailer said stand-alone revenue in the March quarter rose 19.9% from a year ago to ₹12,393.5 crore. 

KEC International jumped 4.5% to ₹768.0 after the company said its construction, mining, and cable business units received orders worth ₹816 crore.