India Movers: Ami Organics, Bharat Forge, Birla Cable, Indus Towers, Kalpataru Projects, Snowman Logistics

Arun Goswami
19 Jun, 2024
Mumbai

Market indexes in Mumbai inched higher to new record highs amid optimism about economic and corporate earnings growth ahead of the release of the national budget.  

The Sensex index increased by 0.2% to 77,420.34, and the Nifty index rose by 0.01% to 23,560.55.

On the Mumbai stock exchange, 176 stocks traded at their 52-week highs, and 6 stocks traded at their 52-week lows.

Bharat Forge increased 1.7% to ₹1,724.65, and the company said its U.S. subsidiary plants will invest $40 million to fund its capacity expansion. 

Mrs. Bectors Food Specialties advanced 0.1% to ₹1,433.80, and the company's board plans to meet on June 24 and review fund-raising proposals. 

Birla Cable decreased 1.6% to ₹245.89, and the European Union is looking to impose anti-dumping duties of 8.5% on optical fiber cables in the region. 

Snowman Logistics decreased 1.2% to ₹74.90, and the promoter Gateway Distriparks acquired an additional 300,000 shares of a 0.18% stake in the company, increasing its stake to 45.98% in the logistics company. 

Kalpataru Projects International rose 0.6% to ₹1,170.95, and the company's board declared a final dividend of ₹8 per share to shareholders on record on June 28. 

Prestige Estates declined 3.6% to ₹1,868.90, and the company's board is scheduled to meet on June 21 to discuss fund-raising alternatives.

Ami Organics surged 4.1% to ₹1,364.90, and the company's board is scheduled to meet on June 21 to finalize the ₹500 crore offering price to institutional investors. 

Indus Towers dropped 5.8% to ₹324.35 after Vodafone Idea plans to sell a 10% stake in the company for as much as $1.1 billion, or nearly ₹9,000 crore, as early as next week through block trading.