Market Updates

India Movers: Manappuram Finance, Nuvoco Vistas, P N Gadgil Jewellers, Tata Motors

Arun Goswami
09 Jan, 2025
Mumbai

    In cautious trading, stock market indexes traded down ahead of the start of the earnings season amid lowered earnings growth expectations.  

    The Sensex index decreased by 0.3% to 77,914.36, and the Nifty index fell by 0.3% to 77,897.91. 

    On the Mumbai stock exchange, 46 stocks traded at their 52-week highs, and 25 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 traded around a record low of 85.91 against the U.S. dollar.

    Tata Motors declined 2% to ₹780.0 after the vehicle maker reported lackluster delivery results in the December quarter. 

    Wholesale vehicle delivery increased 3% to 104,427 units from the previous quarter and rose 20% from the previous quarter. 

    P N Gadgil Jewellers advanced 1.2% to ₹681.05, and the company reported total retail sales jumped 42% from a year ago in the December quarter. 

    Franchise segment sales advanced 87%, and online sales surged 98%. 

    Nuvoco Vistas Corp. Ltd. declined 0.3% to ₹353.95, and the company plans to acquire Vadraj Cement, through the insolvency process, for as much as ₹3,000 crore.

    Manappuram Finance jumped 4.5% to ₹188.10 after the Reserve Bank of India lifted restrictions on the company's microfinance subsidiary following the improvement in compliance. 

     

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