Market Updates

India Movers: Cipla, Patanjali Foods, Tube Investments, TVS Supply Chain

Arun Goswami
12 Jun, 2024
Mumbai

    Market indexes advanced in Mumbai's trading as investors awaited the release of industrial output and consumer price inflation data. 

    The Sensex index increased by 0.4% to 76,743.39, and the Nifty index rose by 0.4% to 23,353.70. 

    On the Mumbai stock exchange, 65 stocks traded at their 52-week highs, and 6 stocks traded at their 52-week lows.

    The yield on the 10-year Indian government bonds inched higher to 7.03%, and the Indian rupee edged higher at ₹83.48 against the U.S. dollar.

    Cipla increased 0.8% to ₹1,542.45, and the generic pharmaceutical company lost a preliminary appeal in a court in Patna, Bihar, for a tax credit. The company said it plans to appeal the decision. 

    Patanjali Foods gained 1.3% to ₹1,492.40, and the food and vitamin supplement maker said it plans to acquire the nonfood business of Patanjali Ayurved Ltd. 

    The company's proposal will be reviewed by a committee of independent board members, and the committee may seek external help in determining the valuation for the proposed transaction. 

    TVS Supply Chain Solutions jumped 7.1% to ₹180.69, and the company said it signed a five-year agreement with Daimler Truck South East Asia Pte Ltd. for an integrated supply chain solution service in Singapore. 

    Tube Investments of India jumped 1.4% to ₹180.69, and the company signed an agreement with South Asia Growth Invest III LLC and South Asia EBT Trust III LLC to facilitate the sale of ₹160 crore convertible preference shares. 

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