India Movers: IREDA, NMDC, Trent, Vedanta

Arun Goswami
03 Sep, 2024
Mumbai

Benchmark indexes on Dalal Street traded around the flatline as investors reassessed the economic growth and inflation outlook ahead of monetary policy decisions from major central banks in the U.S., Europe, and Japan this  month.

The Sensex index increased by 0.1% to 82,652.69, and the Nifty index rose 0.1% to 25,313.40.

On the Mumbai stock exchange, 125 stocks traded at their 52-week highs, and 10 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.87%, and the Indian rupee weakened to 83.94 against the U.S. dollar.

Vedanta Ltd declined 1% to ₹464.0, and the company's board approved a third interim dividend of ₹20 per share, following previous dividends of ₹11 and ₹4 per share. 

After the third dividend, the company has paid out to shareholders a total of ₹13,474 crore. 

Indian Renewable Energy Development Agency decreased 1% to ₹239.10, and the company plans to raise ₹25,000 crore through debt and ₹4,500 crore through an equity offering. 

The renewable energy company is also seeking the central government's approval to sell as much as 10% of its stake to raise additional funds. 

NMDC Ltd. decreased 2.5% to ₹217.10, and the company said iron ore production in August declined 9.9% to 30.7 lakh tons from 34.1 lakh tons in the corresponding month a year earlier. 

Iron ore production in the current fiscal year's first five months to August declined to 1.44 crore tons compared to 1.6 crore tons in the similar period a year ago. 

Trent Ltd. decreased 0.1% to ₹7,151.95, and investor Siddhartha Yog acquired a 0.3% stake in the retailer for ₹718 crore.