India Movers: Adani Wilmar, Bank of Maharashtra, Canara Bank, Godrej Properties, Macrotech Developers, SAMHI Hotels

Arun Goswami
07 Oct, 2024
Mumbai

Stocks in Mumbai struggled to advance amid lingering worries of a rebound in crude oil prices contributing to inflation. 

The Sensex index increased by 0.4% to 81,958.22, and the Nifty index fell by 0.2% to 25,058.65. 

On the Mumbai stock exchange, 136 stocks traded at their 52-week highs, and 60 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.82%, and the Indian rupee eased to 83.96 against the U.S. dollar.

Godrej Properties increased 2.2% to ₹2,958.65, and the residential property developer said sales in the fiscal first half ending in September increased to ₹13,800 crore.

Macrotech Developers advanced 2.7% to ₹1,204.60, and the Mumbai-based residential developer said pre-sale in the fiscal second quarter ending in September increased 21% to 4,290 crore.

Cash deposits from buyers jumped 11% to ₹3,070 crore in the latest quarter.

SAMHI Hotels decreased 0.2% to₹195.50, and the company's board approved the purchase of Innmar Tourism and Hotels for₹205 crore.

Canara Bank declined 1% to ₹106.62, and the bank is looking to auction its holdings in three companies: NSL Sugar Ltd., NSL Krishnaveni Sugar Ltd., and NSL Textiles, with a total reserve price of ₹394.5 crore. 

Bank of Maharashtra decreased 0.3% to ₹57.50, and the Life Insurance Corporation of India increased its stake in the regional bank to 7.1% from 4.05% after participating in the recent secondary offering.

The insurance company acquired a 3.376% stake in the bank at an average cost of ₹57.36 per share. 

Adani Wilmar Ltd decreased 0.7% to ₹334.35, and the edible oil company estimated a 16% increase in sales in the September quarter, primarily driven by a recovery in retail prices.