India Movers: DCM Shriram, Hindalco, Jupiter Wagons, NTPC, REC, Spicejet, Torrent Power

Arun Goswami
18 Sep, 2024
Mumbai

India's goods trade deficit widened amid a surge in imports and a decline in exports. 

Wholesale price inflation softened for the fourth month in a row after food price inflation edged slightly lower. 

The Sensex index decreased by 0.1% to 83,133.99, and the Nifty index edged up by 0.1% to 25,432.10. 

On the Mumbai stock exchange, 149 stocks traded at their 52-week highs, and 15 stocks traded at their 52-week lows.

Oil marketing companies were in focus after the central government withdrew windfall tax following the easing of crude oil prices. 

REC Limited decreased 2.7% to ₹545.50, and the company said it has signed non-binding agreements worth ₹1.1 lakh crore for the development of renewable energy projects. 

Hindalco Industries decreased 0.5% to ₹682.05, and the aluminum company is planning to launch a solar module component manufacturing plant in Mundra, Gujarat. 

NTPC Ltd. increased 1.2% to ₹416.0, and the company's joint venture with Nuclear Power Corporation to set up a 700 MW power plant in Rajasthan was approved by the government. 

Jupiter Wagons declined 2.2% to ₹534.0, and the company is planning to increase its forged wheel production capacity to 100,000 wheelsets from 20,000 wheelsets by 2027. 

The company plans to invest ₹2,500 crore to build a new production facility in Odisha. 

Torrent Power increased 3.3% to ₹1,840.0, and the company received a letter of intent to build hydropower storage from Maharashtra State Electricity Distribution Co. 

The 1,500 MW pumped hydro project will be designed to supply power storage for 40 years. 

Spicejet decreased 3.2% to ₹71.49, and the struggling airline set ₹64,79 per share for its institutional offering. 

The company plans to use proceeds to repay outstanding taxes and contributions to provident funds totaling ₹3,500 crore. 

DCM Shriram Ltd increased 0.2% to ₹1,082.70, and Life Insurance Corporation said it lowered its stake in the sugar and alcohol maker to 4.66% from 6.68%. 

LIC sold shares at an average price of ₹1,100.72 per share.