India Movers: Axis Bank, Century Textiles, Coal India, HDFC Bank, Spicejet, Vodafone

Arun Goswami
11 Sep, 2024
Mumbai

Stocks in Mumbai headed lower, and the rupee hovered near its record low. Crude oil prices fell to a three-year low amid global demand growth worries in the U.S. and China. 

The Sensex index decreased by 0.2% to 81,751.50, and the Nifty index fell by 0.2% to 24,991.75.

On the Mumbai stock exchange, 126 stocks traded at their 52-week highs, and 18 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.

Coal India increased 1.4% to ₹491.50, and the coal mining company plans to invest ₹67,000 crore and build power plants near its mining operations. 

The company plans to generate 4.7 gigawatts of power over the next six to seven years. 

Axis Bank decreased 1.3% to ₹1,186.55, and the financial service company was fined by ₹1.91 crore by the Reserve Bank of India for the lack of compliance. 

Axis Bank has struggled over the last few years with its compliance practices, poor customer service, and outdated information system. 

The Reserve Bank of India also fined HDFC Bank ₹1 crore for non-compliance. 

Century Textiles and Industries jumped 5.6% to ₹2,487.0, and the company agreed to acquire a 10-acre plot of land in Mumbai from Wadia Group. 

Vodafone Idea Group jumped 1.5% to ₹13.58, and the company struggled to convince its bankers for an additional loan of ₹35,000 crore. 

Spicejet added 0.6% to ₹65.94, and the company agreed to a refinancing deal with its aircraft lessor that could strengthen its financial stability. 

The commercial aviation unit of the U.S.-based private equity group, Carlyle, agreed to write off $40.2 million and convert the additional $30 million outstanding payment to equity.