India Movers: Brigade Enterprises, MAS Financial, PNB Housing, Som Distilleries, Vodafone

Arun Goswami
20 Jun, 2024
Mumbai

In active trading in Mumbai, benchmark indexes traded down but hovered near record highs amid rising block trade transactions. 

The Union cabinet unexpectedly hiked the minimum support price for several kharif crops. 

The Sensex index decreased by 0.2% to 77,172.79, and the Nifty index fell by 0.2% to 23,485.60.

On the Mumbai stock exchange, 124 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 lower to 6.97%, and the Indian rupee edged lower at ₹83.45 against the U.S. dollar.

Tata Motors increased 0.8% to ₹984.85, and the third-largest vehicle maker said it plans to raise prices by 2% on commercial vehicles from July 1. 

PNB Housing Finance declined 4.2% to ₹805.0 after the Asia Opportunities Fund and the private-equity company General Atlantic planned to sell 4.2% through a bock deal. 

Brigade Enterprises increased 3.3% to ₹1,362.20, and the company said it arranged ₹150 core financing to develop the third tower at the World Trade Center located in the Infopark complex in Kochi. 

MAS Financial Services jumped 2.7% to ₹321.25, and the company is in the process of raising ₹400 crore from institutional investors.

Som Distilleries and Breweries declined 4.3% to ₹111.12, and the Madhya Pradesh Excise Department canceled the company's license for a violation of child labor laws. 

Vodafone Group plc edged up 1.5% to 71.64 pence after the UK-base wireless telecom carrier agreed to sell its stake in India-based Indus Tower.

Vodafone sold 18% stake in the company and lowered its stake to 3.1%, after raising ₹15,300 crore or Є1.7 billion, according to a statement released by the company.