Indian equity benchmarks ended lower on Monday with the Sensex losing 200.18 points or 0.34% to settle at 57,991.11. The Sensex and Nifty settled above the psychological 58200 and 17300 levels respectively, after gains in IT and technology shares. The Nifty lowered by 73.65 points or 0.43% to end at 17,241.
Also Read: Closing Bell: Sensex falls 200 points, Nifty down 73 points
The broader indices ended in red with the BSE Midcap index declining by 0.87% and the Small-cap index down by 0.58%. The gaining sectoral indices on the BSE were IT up by 0.91%, Tech up by 0.73%, while Consumer Durables down by 1.43%, Power down by 1.30%, Utilities down by 1.12%, FMCG down by 1.01% and Realty down by 0.98% were the top losing indices on BSE.
Also Read: Midday report: Sensex falls 294 points, Nifty down 101 points
Tata Motors: The stock ended at Rs. 395.95, down by 16.25 points or 3.94% from its previous closing of Rs. 412.20 on the BSE. The stock opened at Rs. 403.10 and touched its day high and low of Rs. 403.95 and Rs. 393.15 respectively. Tata Motors’ wholly-owned subsidiary- Jaguar Land Rover (JLR) reported a 4.9% decline in retail sales in the second quarter of FY23.
Also Read: Tata motors shares fall nearly 5% on lower-than-expected JLR wholesale volumes
IDBI Bank: IDBI Bank’s shares ended 9.02% to Rs 45.55 on the BSE after the government invited initial bids for strategic disinvestment in the lender. The stock opened with a positive gap of Rs 3.30 at Rs 46 and attained its day high of Rs 47.50 at BSE Sensex. In the past three months, IDBI Bank’s market price has surged nearly 50%, as compared with a 6% rise in the benchmark index.
Also Read: IDBI Bank jumps 11% as government invites bids for strategic disinvestment
Bandhan Bank: The share price fell 2.73% to Rs 267.40 after the lender reported a weak trend in disbursements for Q2FY23. The bank’s loans and advances stood at Rs 99,374 crore at end of the second quarter, 3% higher on a sequential basis. Total deposits rose by 7% and growth in CASA deposits also remained flat.
Also Read: Rupee hits all-time low of 82.69 against US dollar
Jaiprakash Associates: The stock ended 10.33% high at Rs 11.75 after the company decided to divest the company’s “significant” cement business. Adani Group is in advanced discussions with debt-ridden Jaiprakash Power Ventures Limited to purchase its cement production facility.
Also Read: Adani Group may buy Jaiprakash’s cement unit for $606 million: Report
Gravita India: The stock rose over 4% and closed at Rs 358.70 after the company said that its step-down subsidiary in Senegal started commercial production of aluminium from a new recycling plant with a capacity of around 4,000 MT per annum. The company estimates additional Rs 60 crore in revenue annually with a gross margin of around 20% from the new capacity.