India Movers: Hero MotoCorp, Kalyan Jewellers, Morepen Laboratories, Servotech Power, Tata Motors

Arun Goswami
08 Oct, 2024
Mumbai

Early counting in Haryana polls suggests the BJP is likely to lead in the assembly polls, while the alliance between Congress and the National Congress is expected to lead in Jammu & Kashmir. 

Investors are also awaiting the RBI's rate decision on Wednesday. 

The Sensex index increased by 0.4% to 81,333.72, and the Nifty index fell by 0.4% to 24,881.85. 

On the Mumbai stock exchange, 102 stocks traded at their 52-week highs, and 94 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 83.93 against the U.S. dollar.

Hero MotoCorp and Honda Motorcycle and Scooter reported a decline in two-wheeler unit sales in September. 

Honda sales decreased 4.5% to 333,927 units, and Hero MotoCorp sales dropped 23% to 271,900 units. 

Servotech Power Systems increased 2.2% to ₹175.48 after the company won an additional order for nine electric vehicle charging stations in Maharashtra, increasing its total to 29.

Nashik Municipal Corporation placed the latest order to expand its network of EV charging stations in the city. 

Two weeks ago, the company launched an issue to sell as many as 58.5 lakh warrants, each priced at ₹167.40. 

Kalyan Jewellers decreased 1.9% to ₹688.75, and the company reported a 39% increase in sales in the fiscal second quarter ending in September. 

The retailer said same-store sales increased 23% from a year ago after the government lowered duty on imported gold. 

Tata Motors declined 2.5% to ₹904.20, and the company's luxury unit Jaguar Land Rover reported a 3% decline in retail sales in the September quarter. 

The vehicle maker said production is expected to rebound in the second half as the company remains focused on resolving aluminum supply issues. 

Morepen Laboratories gained 2% to ₹80.04, and the company plans to separate its medical device business, potentially unlocking shareholder value. 

The company is looking to expand production of its glucometer device, and the management is targeting annual sales growth between 25% and 28% in its medical device business.