Movers: Ambuja Cements, IRB Infrastructure, JSW Steel, Solar Industries, Zee Entertainment

Arun Goswami
18 Dec, 2023
Mumbai

Benchmark indexes in Mumbai edged lower after advancing for seven weeks in a row.

The Sensex index decreased 26.68 points to 71,457.07, and the Nifty index fell 1.2 points to 21,455.45.

On the Mumbai stock exchange, 144 stocks traded at their 52-week highs and 8 stocks traded at their 52-week lows.

Tech services providers were among the leading gainers, and banks were among the leading decliners in Monday's trading.

State Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra, Axis Bank, and Bank of Baroda fell around 0.5%.

TCS, Infosys, Wipro, Tech Mahindra, and HCL advanced between 0.2% and 0.6%.

Zee Entertainment decreased 2.6% to ₹270.40, and the company sought an extension for its proposed merger with Sony India on December 21.

The merger proposal has won all regulatory approvals, and two companies are deadlocked in finalizing who will lead the merged company.

Solar Industries India declined 2.7% to ₹6,731.55 after the company said an explosion at its manufacturing plant in Nagpur, Maharashtra, killed nine people and injured several others on Sunday.

Ambuja Cements increased 1.4% to ₹529.70 and the company plans to increase its green power capacity to 60% from the current 19% through investment of ₹6,000 crore over the next three years. 

The company announced its decision in a filing with exchanges to invest in solar and wind power plants in Gujarat and Rajasthan.

IRB Infrastructure Developers gained 4.9% to ₹42.80 after the company said its subsidiary won an award from the National Highway Authority of India. 

The NHAI awarded a construction order for Gwalior-Jhansi Kota Bypass Projects worth 1,683 crore and revenue linked concession period for 20 years. 

JSW Steel declined 1.4% to ₹854.65 after the Mumbai police filed a First Information Report against Chairman of JSW Group Sajjan Jindal, responding to a rape and sexual assault complaint by a 30-year old woman.