India Movers: India Grid Trust, IREDA, Kilburn Engineering, P&G Health, Zen Technologies

Arun Goswami
22 Aug, 2024
Mumbai

Stocks advanced, the rupee struggled near record lows, and bond yields held steady. 

Crude oil prices dropped to 2024 lows amid a weak demand outlook in China, and gold traded near a record high as major central banks prepared to lower rates in September. 

The Sensex index increased by 0.2% to 81,037.76, and the Nifty index rose 0.2% to 24,811.85. 

On the Mumbai stock exchange, 97 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 6.85%, and the Indian rupee weakened to 83.92 against the U.S. dollar.

India Grid Trust declined 0.5% to ₹135.24, and the KKR affiliate plans to sell a 17.3% stake in the power transmission company with a floor price of ₹132 per share. 

India Renewable Energy Development Agency jumped 5.2% to ₹251.60, and the company board is scheduled to meet on August 29 to discuss a secondary offering plan to raise as much as ₹4,500 crore. 

Zen Technologies declined 1.8% to ₹1,749.90, and the company plans to launch a secondary offering of ₹1,000 crore with a floor price of ₹1,685.15 per share. 

Kilburn Engineering jumped 2% to ₹489.50, and the company plans to acquire Monga Strayfield, a radio frequency heating and drying equipment maker, for ₹123 crore. 

Procter & Gamble Health decreased 2.1% to ₹5,258.80, and the company reported a decline in revenue and earnings in the June quarter. 

Revenue decreased 5.7% to ₹283.9 crore, and net income dropped 43.7% to ₹16.8 crore from ₹29.8 crore a year ago, after the company booked a one-time charge of ₹20.2 crore.

The company also declared a final dividend of ₹60 per share.