Market Updates

Movers: CarTrade Tech, Cipla, IREDA, Prestige Estate Projects, Tata Steel, Vedanta

Arun Goswami
24 Jun, 2024
Mumbai

    The indexes in Mumbai hovered near record highs, and investors debated the possible measures in the Union Budget next month. 

    The Sensex index increased by 0.3% to 77,017.93, and the Nifty index rose by 0.1% to 23,594.45. 

    On the Mumbai stock exchange, 212 stocks traded at their 52-week highs, and 22 stocks traded at their 52-week lows.

    Vedanta Ltd. declined 1.4% to ₹464.40, and the company denied speculation that one of the promoters is planning to sell a stake in the resource company. 

    Cipla declined 2.4% to ₹1,504.50, and the U.S. drug regulatory agency issued six areas of non-compliance for the company's manufacturing facility in Goa after the latest inspection between June 10 and June 21. 

    Moreover, the regulatory agency is also demanding additional compliance for the company's plant in Indore. 

    CarTrade Tech declined 3.5% to ₹828.30 on the news report that two key shareholders are looking to trim their stakes in the company. 

    Highdell Investment is looking to sell a 7.0% stake and Macritichie Investments a 3.4% stake in the company through block trading at a minimum price of ₹800. 

    Prestige Estate Projects decreased 0.5% to ₹1,973.45, and the company's board approved raising ₹5,000 crore from institutional investors. 

    Tata Steel fell 2% to ₹176.25, and the company's 1,500 UK plant workers called for a strike in forty years on disagreements with job cuts and blast furnace closure. 

    The Indian Renewable Energy Development Agency advanced 2% to ₹191.26 after the company raised ₹1,500 crore through a bond sale. 

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