India Movers: Ambuja Cements, Aster DM, Bank of India, Brigade Enterprises, Jio Financial, Vedanta, Vodafone Idea

Arun Goswami
16 Apr, 2024
Mumbai

Market indexes in Mumbai trading faced selling pressure for the second day in a row this week amid rising tensions in the Middle East and a deepening war between Iran and Israel. 

The U.S. President Joe Biden's administration has stepped up diplomatic efforts in the region and is urging Israel to exercise restraint and the worry of a wider war in the Middle East that could disrupt crude oil supplies and stoke more attacks in the Red Sea. 

The Sensex index decreased by 0.4% to 73,103.08, and the Nifty index declined by 0.5% to 22,197.50. 

On the Mumbai stock exchange, 66 stocks traded at their 52-week highs, and 10 stocks traded at their 52-week lows.

Jio Financial Services declined 1.9% to ₹364.90, and the company is looking to expand the activities of its joint venture with BlackRock into online stock brokerage and wealth management services. 

Vodafone Idea decreased 2.2% to ₹12.85, and the company's chief executive, Akshaya Moondra, said the company plans to invest ₹5,720 crore to launch its 5G network over the next two years. 

The wireless telecom network operator is in the middle of raising ₹18,000 crore from the anchor investor, Aditya Birla Group. 

Vedanta Ltd. rose 0.6% to ₹372.60, and the company secured an 11-year term loan worth ₹3,918 crore from Power Finance Corporation to expedite the completion of power projects. 

Aster DM rose 0.3% to ₹524.35 after the hospital chain operator said it plans to invest ₹1,000 crore and expand its capacity by 1,700 to 6,000 beds over the next three years. 

Bank of India added 0.3% to ₹139.20, and the financial services company signed an agreement with the Indian Mortgage Guarantee Corporation to provide insured home loans for affordable housing borrowers. 

Brigade Enterprises advanced 1.4% to ₹996.65 after the real estate developer entered into a joint development agreement to build an office complex with the Chennai-based Agni Estates & Foundations. 

Brigade said it plans to invest ₹400 crore to develop the office complex. 

Ambuja Cements increased 0.4% to ₹609.30, and the company said it acquired a cement processing unit in Tamil Nadu for ₹414 crore from My Home Industries.