India Movers: Bank of Baroda, Bharti Hexacom, Maharashtra Seamless, TCS, Vodafone Idea

Arun Goswami
12 Apr, 2024
Mumbai

Market averages on Dalal Street traded down in Friday's trading, and trimmed weekly gains in the holiday-shortened week. 

The Sensex index decreased by 0.2% to 74,889.64, and the Nifty index edged lower by 0.3% to 22,677.40. 

For the week, the Sensex gained 0.9% and the Nifty index advanced 1.4%.  

On the Mumbai stock exchange, 36 stocks traded at their 52-week highs, and 3 stocks traded at their 52-week lows.

Vodafone Idea was nearly unchanged at ₹12.90, and the company set the secondary offering dates to raise ₹18,000 crore between April 18 and April 22. 

Maharashtra Seamless added 0.2% to ₹902.0, and the company won an order worth ₹674 crore for casing seamless pipes from ONGC. 

Bank of Baroda increased 1.8% to ₹270.20, and the financial services company increased its margin lending rate against financial assets by 5 basis points for three tenures.

Margin lending for loans for periods of three months, six months, and one year was revised to 8.45%, 8.65%, and 8.85%, respectively. 

Bharti Hexacom is expected to list its share in an initial public offering on the BSE and the NSE on April 12, and traders are expecting a 15% premium to the offer price. 

Bharti Hexacom plans to sell 7.5 crore (75 million) shares and raise about ₹4,275 crore, with an offer price range between ₹542 and ₹570 per share. 

Tata Consultancy Services rose 0.9% to ₹3,980.75, and the tech services exporter is scheduled to release its March quarter results later today.

TCS is expected to report a sharp rebound in earnings compared to a year ago, following several new contracts and an incremental contribution from the order placed by BSNL.