Movers: BLS International, DLF, Dixon, Infosys, J&K Bank, Mankind Pharma, Sun Pharma, Rail Vikas Nigam

Arun Goswami
12 Dec, 2023
Mumbai

Stocks in Mumbai lacked direction, and investors turned cautious ahead of rate decisions from major central banks in the U.S., UK, the Euro Area, Norway, and Switzerland later in the week.

Most central banks are expected to leave rates unchanged, and investors believe that the central banks of the U.S. and Euro Area are likely to cut rates as early as the first quarter of 2024.

The Sensex index increased 5.24 points to 69,933.99, and the Nifty index rose 11.15 points to 21,008.35.

On the Mumbai stock exchange, 221 stocks traded at their 52-week highs and 7 stocks traded at their 52-week lows.

Dixon Technologies jumped 3% to ₹6,571.50 after the company's subsidiary Padget Electronics won a contract to manufacture laptops and notebooks from Taiwan-based Lenovo.

J&K Bank soared 8% to ₹135.20 after the financial company launched ₹750 crore institutional offering with a floor price of ₹112.50 per share.

Mankind Pharma declined 2.6% to ₹1,868.0 on a CNBC-TV 18 report that several investors are looking to sell the stock in a block deal.

Beige Investment, Cairnhill CIPEF, Cairnhill CGPE, Hema CIPEF, and Link Investment Trust are reported to be among the likely sellers.

Infosys declined 0.7% to ₹1,478.40 after the company appointed Jayesh Sanghrajka as chief financial officer.

Chief Financial Officer Nilanjan Roy resigned to pursue other personal goals outside the company.

DLF decreased 0.4% to ₹664.15, and chief financial officer Vivek Anand tendered his resignation.

Sun Pharmaceutical decreased 0.9% to ₹1,230.20, and the company raised its offer price to acquire outstanding shares of its U.S. subsidiary Taro Pharma.

Rail Vikas Nigam added 1.4% to ₹180.75 after the company won an order worth ₹543 crores from the Madhya Pradesh Metro Rail Corporation.

BLS International jumped 6.9% to ₹316.80 after the company won an order to process visa and passport services from the High Commission of India in Canada.