Market Updates
India Movers: Bank of Maharashtra, Deep Industries, Mazagon Dock, PNB, PNB Housing, Spicejet
Arun Goswami
09 Sep, 2024
Mumbai
Mumbai stocks lacked direction amid weak global market sentiment.
Investors are looking forward to the release of consumer price inflation and industrial production updates later in the week.
The Sensex index decreased by 0.1% to 81,150.87, and the Nifty index fell by 0.1% to 24,835.45.
On the Mumbai stock exchange, 137 stocks traded at their 52-week highs, and 39 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 83.96 against the U.S. dollar.
Punjab National Bank decreased 0.6% to ₹109.40 and Bank of Maharashtra fell 0.3% to ₹60.17, and the central government approved their secondary offering plans.
Both state-controlled are looking to raise as much as ₹5,000 crore through an institutional offering.
PNB Housing Finance declined 0.5% to ₹1,016.0, and the residential mortgage lender is looking to raise as much as an additional $125 million in international markets.
The home loan lender is planning to expand its current loan book of 65,000 crore to 1 lakh crore by the end of March 2028.
Spicejet increased 4% to ₹64.07, and the company is in the early stage of preparing for its 3,200 crore secondary offering.
Deep Industries increased 15% to ₹455.70, and the company won a ₹1,450 crore order from ONGC to improve its production capacity at its Rajahmundry facility.
Deep Industry's order backlog at the end of June stood at ₹1,246 crore.
Mazagon Dock Shipbuilders fell 0.8% to ₹4,366.10, and the company received a 1,486 crore order for subsea pipeline replacement project.
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