India Movers: Adani Power, Ambuja Cement, Jain Irrigation, Power Mech, Railtel Corp., Nykaa, Zomato

Arun Goswami
23 Aug, 2024
Mumbai

Stocks lacked direction on Dalal Street, the rupee bounced around record lows, and the yield of Indian government bonds held firm. 

Crude oil extended weekly losses, and gold edged lower after trading at record highs this week. 

For the week, the Sensex and the Nifty indexes are set to advance. 

The Sensex index decreased by 0.1% to 80,980.82, and the Nifty index fell 0.01% to 24,812.10. 

On the Mumbai stock exchange, 165 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 83.88 against the U.S. dollar.

Power Mech Projects jumped 4% to ₹6,645.0, and the infrastructure-construction company announced a 1-to-1 bonus issue. 

The company also set a ₹2 per share dividend payment to shareholders on record on September 28. 

Jain irrigation jumped 4.6% to ₹69.77, and the company struck a deal with the Coffee Board of India to promote its disease-resistant coffee plants. 

Zomato Ltd. gained 3% to ₹265.84, and the company shut down its intercity food delivery service. 

Railtel Corporation of India increased 5.7% to ₹498.65 after the company won a ₹52.6 crore order from the police department of Uttar Pradesh. 

Adani Power jumped 1.3% to ₹682.25, and the company's plan to acquire Lanco Amarkantak Power Ltd. for ₹4,101 crore was approved by the National Company Law Tribunal. 

FSN E Commerce Venture added 4.5% to ₹220.05, and the pre-IPO investor Harindarpal Singh Banga plans to lower his stake in the parent company of beauty and cosmetic retailers by 1.4 percentage points from 6.4% with a floor price of 198 per share. 

Ambuja Cements added 1.7% to ₹642.35, and the promoter group company Holderind Investments is planning to sell a 2.84% stake in the company with a floor price of ₹600 per share.