India Movers: Adani Green Energy, Brigade Enterprises, Glenmark Pharma, Godfrey Philips, Max Financial, Mrs Bectors Food, Reliance Industries

Arun Goswami
06 Sep, 2024
Mumbai

The Nifty and Sensex indexes extended weekly losses after a tumultuous week of trading in global markets. 

The worries of the U.S. economic slowdown dragged down global market indexes for the second time in as many months. 

The Sensex index decreased by 0.2% to 82,201.16, and the Nifty index fell by 0.2% to 25,093.70. 

For the week, the Sensex declined 0.2% and the Nifty fell 0.6%. 

On the Mumbai stock exchange, 191 stocks traded at their 52-week highs, and 20 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.85%, and the Indian rupee weakened to 83.98 against the U.S. dollar.

Reliance Industries declined 0.3% to ₹2,991.0, and the company's board approved the 1-for-1 stock split during the annual general meeting held on Thursday. 

Adani Green Energy decreased 1.8% to ₹1,896.0, and the company is in discussion with international bankers to sell bonds worth $1.5 billion. 

Glenmark Pharmaceuticals gained 1% to ₹1,703.70, and the company's U.S. subsidiary settled for a $25 fine with the U.S. Department of Justice related to the generic drug pricing. 

The company agreed to pay the fine in six installments over five years. 

Godfrey Philips India advanced 0.3% to ₹6,385.0, and the Delhi High Court favored Bina Modi, which will facilitate her reappointment as managing director of the cigarette maker. 

Max Financial Services decreased 1.4% to ₹1,117.25, and the promoter entity Max Ventures Investment Holdings lowered its stake to 3.34% from 6.52%. 

The promoter group's company sold 1.1 crore shares at an average price of ₹1,107.37 crore per share. 

Mrs. Bectors Food Specialties gained 1% to ₹1,609.0, and the food product maker plans to raise 400 crore in a secondary offering to institutions. 

The company priced the offering at a 3.9% discount to ₹1,550 per share, and proceeds will be used to repay debt and production expansion. 

Sundaram Clayton rose 2.6% to ₹1,790.0, and the company has started commercial production of aluminum die castings at a new capacity in Tamil Nadu with an annual capacity of 7,750 tons. 

Brigade Enterprises gained 2.8% to ₹1,303.30, and the real estate development company completed its institutional offering priced at ₹1,150 per share and raised ₹1,500 crore.