India Movers: Adani Enterprises, Hindustan Aeronautics, IRCTC, Puravankara

Arun Goswami
13 Sep, 2024
Mumbai

Benchmark indexes in Mumbai struggled in Friday's trading and trimmed weekly gains to 2% amid weak global market sentiment. 

Industrial production accelerated slightly in July, and inflation in August held nearly steady, but elevated food prices are likely to persist in the months ahead. 

The Sensex index decreased by 0.01% to 82,889.88, and the Nifty index edged down by 0.1% to 25,359.15. 

On the Mumbai stock exchange, 126 stocks traded at their 52-week highs, and 13 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.81%, and the Indian rupee weakened to 83.92 against the U.S. dollar.

Adani Enterprises edged up 1.5% to ₹2,982.35, and the company clarified in a statement that it is not involved in any Swiss court proceedings.

The company released a statement following a report by the U.S.-based controversial short-seller Hindenburg Research stating that the Swiss authorities have frozen $310 million of the company's assets as part of a money laundering and securities forgery investigation, citing newly released Swiss criminal court proceedings. 

Hindustan Aeronautics gained 0.8% to ₹4,634.05, and a report suggested that the central government is likely to upgrade the company status to Maharatna from Navratna, providing greater operational and financial flexibility to the management. 

Puravankara added 5% to ₹456.95, and the company acquired redevelopment rights for a luxury apartment complex in South Mumbai. 

The company plans to redevelop Miami Apartments in the Breach Candy area and also signed a joint development agreement for a land parcel in Electronic City of Bengaluru. 

Indian Railway Catering and Tourism Corporation inched higher by 0.5% to ₹936.05, and the Life Insurance Corporation of India increased its stake in the company to 9.3% from 7.28%.