India Movers: Bandhan Bank, Eicher Motors, HDFC Asset Management, Gujarat Gas, Insecticides India, Tata Motors, TVS Motor

Arun Goswami
02 Sep, 2024
Mumbai

Stocks in Mumbai edged higher following the continued strength in international markets. 

TVS Motor, Tata Motors, and Eicher Motors reported a decline in vehicle sales in August. 

The Sensex index increased by 0.3% to 82,612.60, and the Nifty index rose 0.3% to 25,315.05. 

On the Mumbai stock exchange, 122 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.86%, and the Indian rupee weakened to 83.87 against the U.S. dollar.

Gujarat Gas Limited soared 5% to ₹637.15, and the company's board approved the amalgamation of Gujarat State Petroleum Corporation, Gujarat State Petronet, and GSPC Energy with the company. 

The company's gas transmission business will be listed as a separate company, GSPL Transmission Limited. 

TVS Motor Company increased 2.1% to ₹2,822.0, and the company said two-wheeler sales in August jumped 13% to 3,91,588 units from 3,45,848 units a year ago. 

Tata Motors decreased 1.1% to ₹1,098.95, and the company said vehicle sales in August decreased 8.1% to 71,693 units, driven by a decline of commercial vehicle sales by 15% to 27,107 units and the fall in passenger vehicle sales by 3.2% to 44,486 units. 

GPT Infraprojects decreased 1.5% to ₹177.10 after the company won a construction project from South Eastern Railway for a road project near Kolkata. 

Bandhan Bank increased 0.5% to ₹201.43, and UBS Principal Capital Asia acquired a 1.19% stake in the bank at an average price of ₹200.27 per share for a total of ₹354.6 crore. 

Insecticides India Ltd. decreased 5.6% to ₹940.80, and the company's board has approved its stock buyback for ₹50 crore at ₹1,000 per share from shareholders on record on September 11. 

HDFC Asset Management Company increased 1.3% to ₹4,458.0, and Life Insurance Corporation lowered its stake in the company to 2.88% from 4.91% over the two-month period ending in August.