India Movers: Dr. Reddy's, Havells, Nitco, Puravakaran, Vodafone Idea

Arun Goswami
14 Jun, 2024
Mumbai

Investors added exposure to stocks in Friday's trading and extended weekly gains in the hopes that the central government would accelerate infrastructure spending and announce new initiatives to support manufacturing. 

The Sensex index increased by 0.1% to 76,912.43, and the Nifty index rose by 0.3% to 23,464.95. 

On the Mumbai stock exchange, 166 stocks traded at their 52-week highs, and 7 stocks traded at their 52-week lows.

Vodafone Idea jumped 0.5% to ₹16.16 after the troubled wireless company's board approved the allocation of equity holdings in the company to two telecom equipment makers, Nokia and Ericsson, in a bid to lower its outstanding debts. 

The company's board approved the allocation of 1,027 million (or 102.7 crore) shares to Nokia and 633.7 million (or 63.37 crore) shares to Ericsson in exchange for prior debt. 

Dr. Reddy's Laboratories decreased 0.7% to ₹6,054.15, and Life Insurance Corporation of India said it increased its stake in the company to 5.01% from 4.95% through stock purchases in the open market at an average price of 6,059.82 per share. 

Puravankara Ltd. jumped 1% to ₹440.0 after the company's board approved the plans to raise as much as ₹1,000 crore through an institutional offering. 

Havells India edged up 0.3% to ₹1,842.95, and the maker of consumer goods said it plans to expand its air conditioner production capacity to 15 lakh units at two facilities located in Ghiloth, Rajasthan, and Sricity, Andhra Pradesh. 

The company said it plans to invest between 50 and 60 cores and complete its expansion plans before March 2025. 

Nitco jumped 5% to ₹80.28, and the company signed an agreement to sell its land in Kanjurmarg, Mumbai, to Runwal Construction Private Limited.