India Movers: Adani Wilmar, Adani Energy, BPCL, Bajaj Housing Finance, Bharat Forge, Reliance Infra, Reliance Power, Strides Pharma

Arun Goswami
17 Sep, 2024
Mumbai

Stocks in Mumbai traded around the flatline, and investors reviewed the impact of the recent decline in crude oil prices on domestic inflationary forces. 

The Sensex index decreased by 0.1% to 82,916.07, and the Nifty index edged down by 0.1% to 25,369.95. 

On the Mumbai stock exchange, 110 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.

Adani Wilmar declined 0.6% to ₹363.30, and Adani Enterprise and Wilmar International plan to sell a 13% stake in the listed joint venture to meet the regulatory requirements. 

After the sale, two companies will lower their combined stake from 88% to 75%, meeting the minimum public holding requirement of 25%. 

Adani Energy Solutions increased 0.4% to ₹983.95, and Kenya Electricity Transmission clarified that the company has still not finalized its deal to build three high-voltage power lines. 

Bjajaj Housing Finance increased 7.7% to ₹177.75, and the company priced its stock at ₹70 per share and sold a total of 92.6 crore shares and raised ₹6,500 crore.

The company provides consumer loans and 82% of its 308,693 active customers have home loans.    

The company's initial public offering was oversubscribed by nearly 64 times. 

Bharat Forge declined 0.8% to ₹1,588.40 and Kalyani Forge added 1.4% to ₹531.90, and family feud between Baba Kalyani and Gaurishankar Kalyani deepened. 

Baba, 75, rejected his 70-year-old brother Gaurishankar's claim of a second will by their mother as "misinformation campaign." 

Strides Pharma declined 2% to ₹1,368.80, and the company received a U.S. Food and Drug Administration's regulatory approval to manufacture generic Fluoxetine tablets. 

Fluoxetine is used to treat depression, panic attacks, and eating disorders. 

Reliance Power gained 2% to ₹31.69, and the company won an order to build a battery storage solution from Solar Energy Corporation of India. 

Reliance Infrastructure soared 6.4% to ₹229.80, and the company's board is scheduled to meet on September 19 to discuss additional fund raising. 

Three years ago, the company raised ₹550 crore through the placement of a preferred stock offering. 

BPCL declined 0.4% to ₹339.30, and the Central Pollution Control Board issued a preliminary warning for the lack of vapor recovery system at the company's 28 storage terminals. 

The regulatory board threatened to fine one crore rupees if the company fails to provide an adequate response by September 19.