India Movers: Birlasoft, Jindal Worldwide, WPIL, REC, Signatureglobal, Tata Steel

Arun Goswami
08 Jan, 2025
Mumbai

Stock market indexes in Mumbai traded down as investors lowered annual growth expectations amid a slowdown in consumer spending and delay in investment in infrastructure. 

The Sensex index decreased by 0.2% to 78,073.69, and the Nifty index fell by 0.2% to 23,673.30. 

On the Mumbai stock exchange, 70 stocks traded at their 52-week highs, and 52 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.78%, and the Indian rupee hovered at a record low of 85.78 against the U.S. dollar.

Tata Steel decreased 0.3% to ₹133.18, and the company reported an increase in steel production in the fiscal third quarter. 

Production in the December quarter increased 6% from a year ago to 5.68 million tons after the company commissioned a new blast furnace in Kalinganagar, Odisha. 

Sobha Ltd. declined 2.4% to ₹1,475.60, and the residential property developer said new home sales in the December quarter increased 17.8% from the previous quarter. 

New home sales rose to ₹138.8 crore, and the company pre-sold 10 lakh square feet at an average price of ₹13,663 per sq ft. 

Signatureglobal India Ltd. increased 0.9% to ₹1,365.0 after the residential developer reported a strong increase in pre-sales in the fiscal third quarter.

Advanced booking of new homes in the quarter surged 120% to ₹2,770 crore from ₹1,260 crore a year ago, and the company said milestone-based payment collection rose 40% to ₹1,080 crore from ₹770 crore. 

REC Ltd. fell 0.6% to ₹512.30, and the power company said it plans to invite additional bidders for the sale of ₹2,848 crore through an auction process. 

Birlasoft Ltd. declined 1.9% to ₹537.0 after chief executive Roopinder Singh resigned. 

Jindal Worldwide Ltd. increased 1.7% to ₹452.75, and the company announced a 4-to-1 bonus issue. 

WPIL Ltd. advanced 1.6% to ₹749.35, and the company said it acquired Italy-based large water station pump maker MISA.