India Movers: EIH Associated Hotels, Gland Pharma, Gulshan Polyols, Magnum Ventures, Mphasis, Samvardhana Motherson

Arun Goswami
10 Jun, 2024
Mumbai

Market indexes on Dalal Street struggled to advance, and the rupee and the yield on government bonds held firm. 

The Reserve Bank of India held its interest rate steady and lifted its GDP growth outlook for the current year.

The Sensex index increased by 0.3% to 75,288.17, and the Nifty index rose by 0.3% to 22,897.85. 

On the Mumbai stock exchange, 181 stocks traded at their 52-week highs, and 16 stocks traded at their 52-week lows.

Gulshan Polyols decreased 0.9% to ₹187.0, and the company said its ethanol production plant with a capacity of 250 kiloliters per day in Assam met its quality control requirements in the trial run. 

The company is targeting launching commercial production in the next few weeks after the completion of quality control requirements for oil marketing companies. 

Magnum Ventures jumped 0.5% to ₹49.03, and the company said it plans to shut down its paper mill for one month for regular maintenance and repair work. 

Gland Pharma increased 0.5% to ₹1,868.0, and the company appointed Srinivas Sadu as Executive Chairman and CEO of the company. 

Samvardhana Motherson jumped 2.4% to ₹160.51, and Moody's Ratings upgraded the long-term debt rating outlook for the company's two international subsidiaries to "Baa3" from "Ba1." 

Mphasis Ltd. dropped 4% to ₹2,373.70, and a report suggested that the U.S.-based private equity group Blackstone is set to sell at least a 10% stake in the company with a base price of ₹2,350 per share. 

KEC International advanced 4.7% to ₹803.20, and the power transmission and distribution engineering company secured new orders worth 1,061 crore, totaling ₹3,000 crore in the year so far. 

EIH Associated Hotels jumped 14.5% to ₹823.0, and the luxury hotel chain operator scheduled a board meeting to consider the bonus share offering.