India Movers: Adani Power, Blue Star, Eicher Motors, Godrej Properties, HCL Technologies, NTPC, Reliance Power

Arun Goswami
03 Oct, 2024
Mumbai

The rising tensions in the Middle East and uncertainties about the supply chain disruptions in the Eastern United States negatively impacted market enthusiasm on Dalal Street as trading resumed after the Gandhi Jayanti holiday. 

The Sensex index decreased by 0.7% to 83,707.86, and the Nifty index fell by 0.7% to 25,618.90. 

On the Mumbai stock exchange, 183 stocks traded at their 52-week highs, and 54 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.73%, and the Indian rupee eased to 83.91 against the U.S. dollar.

Godrej Properties decreased 0.2% to ₹3,243.10, and the company's board approved the company's plans to raise as much as ₹6,000 crore to finance its real estate projects. 

HCL Technologies decreased 0.6% to ₹1,798.25, and Taiwan-based Foxconn is planning to invest as much as 424 crore in a semiconductor joint venture with the company. 

Adani Power decreased 1% to ₹646.20, and the company agreed to acquire the Dahanu Power Station for ₹815 crore. 

Marico Ltd. increased 2.6% to ₹705.10 after the company reported a high single-digit revenue growth in the fiscal second quarter ending in September. 

The company said revenue growth is expected to accelerate in the second half of the fiscal year as currency headwinds ease. 

Blue Star Ltd. declined 0.7% to ₹2,080.45, and the company said it is likely to prevail in arbitration with Oman-based W J Towell & Company, which is demanding ₹461.74 crore.

The company said the claims asserted by the Oman-based company are unfounded and materially not significant. 

NTPC increased 0.3% to ₹440.65, and the company owned THDC India Limited signed a preliminary agreement with the Rajasthan government for 1,600 MW pump storage projects for a total investment of ₹8,000 crore. 

Reliance Power increased 5% to ₹53.64 and Reliance Infrastructure jumped 2.7% to ₹340.95, and both companies struck a partnership with Bhutan-based Druk Holding and Investment for renewable energy projects. 

The joint venture plans to develop a 770 MW hydroelectric power plant and a 500 MW solar power plant. 

Eicher Motors declined 2.7% to ₹4,837.55, and the vehicle maker said unit sales jumped 11% from a year ago to 86,978 in September.