India Movers: Bank of Baroda, Bharti Airtel, Cochin Shipyard, GRP, Godrej Properties, UltraTech Cement, Vodafone Idea

Arun Goswami
01 Jul, 2024
Mumbai

Stocks in Mumbai advanced and extended the previous week's market surge despite the persistent valuation worries, aided by the return of foreign investors in June. 

The Sensex index increased by 0.3% to 79,233.49, and the Nifty index rose by 0.2% to 24,067.30. 

On the Mumbai stock exchange, 192 stocks traded at their 52-week highs, and 18 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 7.02%, and the Indian rupee strengthened to ₹83.39 against the U.S. dollar.

Vodafone Idea decreased 3.3% to ₹17.90 to ₹17.90 and Bharti Airtel declined 1.8% to ₹1,450.0 after the two leading telecom companies announced increases in monthly tariff plans, following the hikes by Reliance Jio. 

Bharti Airtel announced its plans to raise subscription rates by as much as 25%. 

Godrej Properties jumped 5.8% to ₹3,290.0, and the residential property developer announced the purchase of two development lots in Pune and Bengaluru. 

The company plans to develop the 11-acre leasehold in Pune for residential and commercial projects and the 7-acre land in Bengaluru for residential projects. 

Bank of Baroda declined 0.05% to ₹275.25, and the financial service company said it plans to appeal a tax demand for 1,067.82 crore for the financial year 2018. 

Orchid Pharma increased 4.7% to ₹1,187.0 and Cipla added 0.2% to ₹1,483.50 after the two companies announced a partnership to market pharmaceuticals to treat urinary tract infections and pneumonia. 

GRP Ltd. soared 18.5% to ₹15,250.0, and the company's board announced a 3-to-1 bonus share. 

Cochin Shipyard advanced 2.2% to ₹2,282.65, and the company has signed a ₹1,100 crore agreement with the Norway-based Wilson ASA for the design and construction of eight 6,300 TDW Dry Cargo Vessels. 

Davangere Sugar increased 2% to ₹8.57, and the company said it plans to begin ethanol production in October using damaged corn crops sourced from various regions of the country. 

UltraTech Cement gained 0.3% to ₹11,705.30, and the Adani Group-controlled company has launched an additional 3.35 mtpa clinker production and 1.8 mtpa grinding capacity at its unit in Andhra Pradesh.