India Movers: Container Corporation, GPT Infra, Hindalco, NLC, Nuvama Wealth, State Bank of India, Ztech India

Arun Goswami
05 Jun, 2024
Mumbai

Stocks in Mumbai struggled for the second session in a row after the ruling coalition lost its solid majority in the Lok Sabha election, forcing the BJP to seek a power-sharing arrangement with regional parties. 

The Sensex index increased by 0.3% to 72,315.25, and the Nifty index rose by 0.4% to 21,965.70. 

On the Mumbai stock exchange, 50 stocks traded at their 52-week highs, and 90 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.03%, and the Indian rupee edged higher at ₹83.52 against the U.S. dollar.

Container Corporation of India decreased 1.5% to ₹936.15, and the company signed an agreement with Shipping Corporation of India to provide a logistic solution. 

Nuvama Wealth Management dropped 0.3% to ₹4,536.0, and the company set up a subsidiary in Dubai to serve the growing community of Indian professionals. 

NLC India declined 1.2% to ₹198.90, and the company said it plans to raise foreign currency loans of $600 million through a direct offering. 

GPT Infraprojects fell 1.5% to ₹225.15, and the company won an order worth ₹547 crore from Rail Vikas Nigam. 

Hindalco Industries plunged 7.5% to ₹644.0 after the company postponed the initial public offering of its U.S. unit Novelis, citing challenging market conditions. 

State Bank of India decreased 2.5% to ₹774.60, and the financial service provider scheduled a board meeting to discuss its options to raise foreign currency loans worth $3 billion in the current financial year. 

Ztech India is set to list its stock in an initial public offering and raise as much as 37.3 crore through the sale of 37.3 crore shares. 

The company's initial public offering has been oversubscribed 371 times.