India Movers: Adani Enterprises, HDFC Life, ICICI Bank, JSW Infra, Tata Group, Vedanta

Arun Goswami
10 Oct, 2024
Mumbai

Stocks in Mumbai extended their weekly gain, and investors awaited the start of the earnings season with the latest quarterly results from leading tech services providers.

The Sensex index increased by 0.5% to 81,889.24, and the Nifty index rose by 0.5% to 25,096.80. 

On the Mumbai stock exchange, 77 stocks traded at their 52-week highs, and 10 stocks traded at their 52-week lows.

Adani Enterprises decreased 2.6% to ₹3,073.40, and the company launched an institutional offering priced at ₹3,117 per share to raise as much as ₹16,600 crore. 

The company plans to use the proceeds to finance multiple projects, including several airport expansions. 

Vedanta rose 0.3% to ₹497.25, and the company has pre-paid $869 million to bond holders for notes maturing in 2027 as a part of its plan to save future interest costs. 

JSW Infrastructure decreased 0.1% to ₹319.90, and the company received a preliminary interest from the Maharashtra Maritime Board to develop a multi-purpose port in Palghar district at a cost of about 4,260 crore. 

ICICI Securities declined 3.3% to ₹839.55, and the National Company Law Tribunal approved the company's merger plan with its parent company, ICICI Bank. 

Shareholders of the securities company receive 67 shares of ICICI Bank for every 100 shares held. 

Tata Group stocks were in focus after former chairman of Tata Sons, Ratan Tata, passed away at the age of 86. 

Tata Consultancy Services increased 0.7% to ₹4,283.50, Tata Chemicals increased 5.3% to ₹1,163.30, and Tata Motors advanced 0.2% to ₹940.70. 

HDFC Life Insurance Company decreased 0.03% to ₹717.05, and the company said plans to raise ₹1,000 crore through the sale of unsecured non-convertible bond offerings. 

IDFC Ltd declined 1.% to ₹108.78 and IDFC First Bank increased 1.2% after the bank agreed to merge with IDFC. 

UBS Group, the Swiss financial services company, agreed to acquire a 0.5% stake for ₹88 crore in IDFC on the heels of the merger announcement.