India Movers: BGR Energy, Cartrade Tech, NMDC, Tata Power

Arun Goswami
25 Sep, 2024
Mumbai

Stocks in Mumbai struggled to advance amid mixed global cues, and the rupee edged lower following the general weakness in the U.S. dollar. 

The Sensex index increased by 0.01% to 84,921.82, and the Nifty index fell by 0.2% to 25,934.65. 

On the Mumbai stock exchange, 135 stocks traded at their 52-week highs, and 19 stocks traded at their 52-week lows.

Tata Power Company increased 3.5% to ₹468.75, and the company said its power operations are going to be disrupted at its Trombay Power Plant because of a fire.

The company also confirmed that the Mumba-based power production facilities carry "adequate" insurance to cover potential expenses. 

NMDC increased 0.8% to ₹225.80, and the fourth-largest iron ore company in the world said iron ore production and sales in the fiscal year 2024 advanced. 

NMDC's annual production increased 10% to record 45 million tons in its latest financial year, the first company to reach that milestone in India, CMD Amitava Mukherjee said at the company's 66th annual general meeting. 

Sales in the year also increased 16% to 44.48 million tons. 

Revenue in the fiscal year 2024 rose by 21% to 21,294 crores, and after-tax profit increased by 2% to 5,632 crores, driven by an increase of 28% in operating earnings. 

BGR Energy Systems declined 2% to ₹50.34, and the securities regulator, SEBI, imposed a fine of ₹9 lakh for regulatory lapses. 

Cartrade Tech gained 2.9% to ₹1,008.25, and a fund controlled by Warburg Pincus sold its 8.64% stake in the company for ₹375 crore. 

A mutual fund controlled by Mirae Asset Management acquired a 6.4% stake, and the remaining stocks were sold through open market transactions.