India Movers: Eicher Motor, Godrej Group, Hero MotoCorp, Jindal Stainless, Maruti Suzuki, Tata Motors

Arun Goswami
02 May, 2024
Mumbai

Stocks in Mumbai traded down after investors returned from a holiday and digested the latest updates on GST collections and core industry output. 

Core industry output rose at a slower pace of 5.2% in March, after rising at an annual pace of 7.1% in the previous month, but faster than the 4.2% pace in the month a year ago, the ministry of commerce and industry announced in a report on Wednesday. 

GST collections in April rose 12.4% to a record high of 2.10 lakh crore, the ministry of finance reported Wednesday. 

The Sensex index decreased by 0.23% to 74,078.82, and the Nifty index fell by 0.2% to 22,530.06. 

On the Mumbai stock exchange, 119 stocks traded at their 52-week highs, and 6 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.20%, and the Indian rupee edged lower at ₹83.43 against the U.S. dollar.

Godrej Group companies were in focus after the family reached an agreement to split the conglomerate.

Brothers Adi and Nadir Godrej will own publicly listed companies, while cousin Jamshyd Godrej will own a land portfolio and privately held companies. 

Hero MotoCorp increased 2.2% to ₹4,551.0 after the company said two-wheeler vehicle sales in April increased 34.7% from a year ago to 533,585 units. 

Eicher Motors increased 1% to ₹4,615.50 after the company said domestic truck and bus sales increased 20% and international sales rose 38.5%.

Maruti Suzuki advanced 0.9% to ₹12,800.0 after the passenger car maker said vehicle sales in April were unchanged from a year ago at 168,000. 

Tata Motors increased 0.7% to ₹1,008.0 after the company said total global vehicle sales in April increased 31% from a year ago to 77,521 units from 69,599.

Global commercial vehicle sales increased by 31% to 29,538 units, and passenger car sales rose by 2% to 47,983 units from a year ago, respectively. 

Jindal Stainless rose 1% to ₹707.0, and the company announced its plans to invest 5,400 crore to meet its expansion plans.