India Movers: Eco Hotels, Coal India, IREDA, KEC International, ONGC, TCI, Uno Minda

Arun Goswami
26 Aug, 2024
Mumbai

Stocks in Mumbai advanced tracking gains in U.S. financial markets after Fed Chair Powell raised expectations of future rate cuts. 

Gold traded near record highs amid the dovish U.S. monetary policy outlook. Crude oil advanced amid rising tensions in the Middle East. 

The Sensex index increased by 0.3% to 81,336.39, and the Nifty index rose 0.3% to 24,886.20. 

On the Mumbai stock exchange, 209 stocks traded at their 52-week highs, and 10 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 83.85 against the U.S. dollar.

Indian Renewable Energy Development Agency increased 1% to ₹259.50, and the company is looking to raise as much as ₹4,500 crore. 

Eco Hotels and Resorts gained 5% to ₹48.57, and the company said it acquired three properties in Sindhudurg, Maharashtra, to increase its available rooms by 500 by the end of 2024. 

Uno Minda decreased 1.8% to ₹1,117.40, and the automotive component maker, in collaboration with Japan-based Tokai Rika Corp., inaugurated a new production facility in Rajasthan. 

ONGC decreased 1.7% to ₹318.60, and the energy exploration company opened its fifth oil exploration well in the Krishna Godavari basin. 

Coal India advanced 1.7% to ₹537.85, and the company said its failure to collect ₹35,000 crore of mining taxes from its customers would negatively impact its financials. 

Transport Corporation of India dropped 7.1% to ₹1,080.0, and the company's board approved the buyback plan of 13.3 lakh shares at ₹1,200 per share from shareholders on record on September 4. 

KEC International gained 5.7% to ₹888.0, and the company said it won new orders worth ₹1,079 crore for power transmission projects in India, the Middle East, and the Americas. 

The company confirmed that its new orders in the current financial year have surpassed ₹8,700 crore.