India Movers: JSW Energy, MTNL, Patanjali Foods, Spicejet, Zydus Lifesciences

Arun Goswami
16 Sep, 2024
Mumbai

Stocks in Mumbai opened higher amid optimism about the inflation outlook after the crude oil prices hovered near the 2024's lows.

Bajaj Housing Finance, Tolins Tyres, and Arkade Developers are in focus this week ahead of  listing their shares on stock exchanges. 

Patanjali Foods decreased 0.5% to ₹1,850.70 after Patanjali Ayurved sold 2.7%, or 97.9 lakh shares, for ₹1,815 crore. 

GLG Partners increased its stake in the food product maker by 1.24% through an open market transaction and potentially acquiring shares sold by Patanjali Ayurved. 

Zydus Lifesciences declined 0.1% to ₹1,117.15, and the U.S. Food and Drug Administration issued warning letters citing manufacturing lapses at its Gujarat manufacturing unit. 

Spicejet increased 2.4% to ₹73.39 after the company received approval from the SEBI to raise as much as 3,000 crore through the sale of securities. 

The securities regulator also banned Spice Healthcare, the promoter group-controlled company, from making an open offer to acquire additional shares in the struggling airline. 

JSW Energy declined 0.5% to ₹764.0, and the company's subsidiary has commissioned a 300 MW wind power plant in Tuticorin, Tamil Nadu. 

Mahanagar Telephone Nigam decreased 3.7% to ₹57.09 after the central government said it will make interest payments on outstanding bonds for the second time. 

MTNL also said in a regulatory filing that the Bank of India has classified its loans to the company totaling ₹1,024 crore as non-performing. 

The central government has pumped more than ₹3.2 lakh crore into MTNL and BSNL, two state-controlled struggling telecom companies facing severe financial difficulties. over the last five years.