India Movers: Bajaj Finserv, Concor, HDFC Life, Nestle India, Pitt Engineering, SBI Life

Arun Goswami
09 Jul, 2024
Mumbai

Benchmark indexes hovered near record highs amid sustained buying from domestic investors and a supportive economic backdrop ahead of the start of the earnings season. 

The Sensex index increased by 0.3% to 80,186.89, and the Nifty index advanced by 0.2% to 24,374.30. 

On the Mumbai stock exchange, 99 stocks traded at their 52-week highs, and 7 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.98%, and the Indian rupee edged higher to ₹83.51 against the U.S. dollar.

Pitti Engineering increased 3.5% to ₹1,196.95, and the electrical machinery component maker said it plans to raise as much as 360 crore through a secondary offering. 

The offering is expected to be priced at $1,054.25 per share. 

Mahanagar Gas increased 1.2% to ₹1,689.0, and the natural gas distributor announced a price increase for compressed natural gas and piped gas delivery from July 10. 

The price of compressed natural gas will increase by ₹1.50 to ₹75 per kilo, and the price of piped natural gas will increase by ₹1 to ₹48 per standard cubic meter.

Container Corporation of India decreased 0.9% to ₹1,033.30, and the transportation company said the number of containers handled increased by 6% in the June quarter from the year earlier. 

The total number of containers handled increased to 11.59 lakh twenty-foot equivalent units from 10.93 TEU. 

HDFC Life Insurance gained 0.5% to ₹624.05 after the total industry premium increased 15% from a year earlier to ₹42,434 crore in June, according to data released by the Life Insurance Council on Monday. 

The insurance premiums for HDFC Life Insurance increased by 8%, ICICI Prudential Life Insurance jumped by 14%, SBI Life advanced by 22%, and LIC increased by 14%. 

Bajaj Finserv increased 0.2% to ₹1,571.70 after the company's two insurance subsidiaries reported a sharp increase in insurance premium revenue in June.

The gross direct premium underwritten by Bajaj Allianz General Insurance was ₹1,234 crore and by Bajaj Allianz Life Insurance was ₹1,082 crore. 

Nestle India decreased 0.05% to ₹2,602.05, and the company's shareholder approved the current rate of 4.5% royalty payment to its Swiss parent company.