India Movers: GIC, Indian Energy Exchange, KIMS, NHPC, PDS

Arun Goswami
04 Sep, 2024
Mumbai

Benchmark indexes in Mumbai dropped nearly 1% following sharp losses in New York that rippled to markets in Europe and Asia after fears of an U.S. economic slowdown resurfaced. 

The Sensex index decreased by 0.9% to 81,845.50, and the Nifty index fell by 0.8% to 25,089.95. 

On the Mumbai stock exchange, 97 stocks traded at their 52-week highs, and 22 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.87%, and the Indian rupee weakened to 83.95 against the U.S. dollar.

General Insurance Corporation of India declined 0.4% to ₹420.80, and the central government plans to sell a 6.78% stake in the company to raise as much as ₹4,700 crore. 

The offering is expected to be priced on Thursday at 395 per share, reflecting a discount of 6% from the current market price. 

Krishna Institute of Medical Sciences increased 0.8% to ₹2,565.0, and the hospital chain operator set September 13 as a record date for its 5-for-1 stock split. 

Indian Energy Exchange advanced 1% to ₹205.40, and the power exchange operator said electricity units traded on its platform surged 36% from a year ago to 12.04 billion units in August. 

The volume of renewable certificates traded more than sevenfold from a year ago, but the price fell to a record low of 115 per certificate. 

PDS gained 0.4% to ₹543.0, and the company said operations at factories owned by the company and its partners have returned to normal operations in Bangladesh. 

Normal business functions were disrupted for more than five weeks across the nation after widespread protests erupted that led to the ouster of prime minister Sheikh Hasina. 

NHPC increased 1% to ₹98.90, and the company has signed a preliminary agreement with the Maharashtra Department of Water Resources to build a 7,300 MW energy production and storage system.