Market Updates
India Movers: Aditya Birla Capital, Aurobindo Pharma, IT Stocks, Nazara Technologies, NTPC, Power Finance
Arun Goswami
19 Sep, 2024
Mumbai
India indexes advanced and the rupee edged higher after the U.S. Federal Reserve lowered its key lending rate by 50 basis points.
India's net direct tax collection increased 16% in the first six months.
Information technology stocks rebounded following the jumbo rate cut by the U.S. Federal Reserve.
Infosys advanced 1.1%, Tata Consultancy increased 1%, Mphasis gained 0.2%, and Persistent Systems soared 2.9%.
Nazara Technologies decreased 2.6% to ₹1,058.0, and the company's board approved raising as much as₹900 crore through a preferential issue.
The company increased its stake in Absolute Sports, the parent company of Sportskeeda, to 91%.
Aurobindo Pharma gained 2.2% to₹1,555.60, and the company said it plans to acquire the remaining 49% stake in GLS Pharma for ₹22.5 crore before the year's end.
NTPC rose 3.6% to ₹429.20, and the company filed with the SEBI to list its green energy unit, NTPC Green Energy, and raise as much as ₹10,000 crore.
Aditya Birla Capital rose 2.4% to ₹232.68, and the Reserve Bank of India approved the company's plan to merge with Aditya Birla Finance.
Power Finance declined 1.7% to ₹483.60, and the company paid a total of ₹4,455 crore in the fiscal year 2024, including ₹462 crore to the central government.
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