Market Updates
India Movers: Arvind Smartspaces, HDFC Bank, Hero MotoCorp, PSP Projects, Patel Engineering
Arun Goswami
23 Apr, 2024
Mumbai
Stocks in Mumbai advanced and the rupee recovered from the record low as the prospect of a direct conflict between Iran and Israel eased for now.
The Sensex index increased by 0.3% to 73,865.87, and the Nifty index rose by 0.2% to 22,394.70.
On the Mumbai stock exchange, 139 stocks traded at their 52-week highs, and 5 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 7.19%, and the Indian rupee edged lower at ₹83.35 against the U.S. dollar.
Reliance Industries increased 0.8% to ₹2,962.90 after the company released mixed quarterly results.
Revenue in the March quarter rose 11.1% to ₹2.37 lakh crore, and after-tax net income decreased 1.8% to ₹18,951 crore from a year ago, respectively.
HDFC Bank decreased 1.1% to ₹1,514.35, and the company is in negotiations to sell as much as a 20% stake in its non-banking unit, HDFC Financial Services, to Japan-based Mitsubishi UFJ Financial Group.
Hero MotoCorp increased 2.5% to ₹4,320.0, and the company said chief technology officer Arun Jaura resigned from the office effective April 30.
Arvind Smartspaces advanced 0.5% to ₹687.65, and the company said its chief financial officer has resigned effective April 22.
Patel Engineering rose 6.2% to ₹62.75 after the construction service provider launched its institutional offering to raise up to ₹500 crore with a floor price of ₹59.50 per share.
PSP Projects rose 2.7% to ₹698.0 after the company launched its institutional offering to raise up to ₹244 crore with a floor price of ₹682.59 per share.
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