India Movers: Adani Power, Motherson, NHPC, Punjab National Bank, Reliance Power, Spicejet, V2 Retail

Arun Goswami
24 Sep, 2024
Mumbai

Stocks in Mumbai edged slightly higher, but the rising tensions in the Middle East kept market enthusiasm in check on Dalal Street.

The Sensex index increased by 0.1% to 85,032.78, and the Nifty index edged up by 0.1% to 25,971.50. 

On the Mumbai stock exchange, 190 stocks traded at their 52-week highs, and 20 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.70%, and the Indian rupee strengthened to 83.55 against the U.S. dollar.

Spicejet decreased 1.2% to ₹69.37, and the struggling discount airline said it has completed its ₹3,000 crore secondary issue.

Moreover, the company said it received an additional ₹736 crore from the previous fund-raising round. 

Reliance Power gained 5% to ₹40.05, and the electric power company said it plans to raise ₹1,525 crore to accelerate its plans to expand its renewable energy business. 

Punjab National Bank decreased 0.7% to ₹110.73, and the financial service provider set the terms of its upcoming ₹7,500 crore secondary issue for institutional investors.

The company set the floor price of ₹109.16 per share with a maximum discount of 5%.

Adani Power increased 0.04% to ₹672.30, and the company is looking to sell electric power from the Godda thermal power plant located in Jharkhand in the domestic market following the lack of payment from Bangladesh. 

V2 Retail soared 5% to ₹1,284.85, and Lighthouse Advisors sold a 2% stake for ₹85 crore in the Kolkatta-based apparel and household goods retailer. 

After the latest stake sale to a mutual fund controlled by Motilal Oswal, Lighthouse still controls 4.24% stake in the retailer. 

NHPC decreased 0.2% to ₹94.02, and the hydroelectric power company paid a total of ₹1,286.33 crore, including the final dividend of 338.51 crore paid recently to the central government. 

Samvardhana Motherson International decreased 0.4% to ₹206.55, and the automotive component manufacturer completed its secondary issue ₹6,438 crore. 

The company plans to use the proceeds to repay its debt and for general corporate expenses.