Market Updates
India Movers: Axis Bank, Bharat Forge, PG Electroplast, Indus Towers, Indraprastha Gas, Torrent Pharma
Arun Goswami
05 Dec, 2024
Mumbai
After a week of political maneuvering, the three-party coalition finalized the selection of chief minister in Maharashtra.
Financial markets struggled to advance ahead of the RBI's rate decisions on Friday.
The Sensex index decreased by 1.0% to 79,592.61, and the Nifty index dropped by 1.0% to 24,237.80.
On the Mumbai stock exchange, 134 stocks traded at their 52-week highs, and 10 stocks traded at their 52-week lows.
Indus Towers Ltd. increased 1.6% to ₹364.40, and the UK-based Vodafone is looking to sell its 3% stake in the company worth 2,841 crore and use the proceeds to pay its debts in the India-based Vodafone Idea.
Indraprastha Gas Ltd. advanced 2% to ₹367.40, and the company's board at a meeting on December 10 is expected to review the bonus issue.
Axis Bank decreased 0.2% to ₹1,157.80, and the company's brokerage unit, Axis Securities, was fined 14.2 lakh after a dealer was alleged to front-run client orders.
Torrent Pharmaceuticals increased 0.4% to ₹3,366.70, and the company said it plans to acquire Cospiaq and Xilingio for the treatment of type 2 diabetes from Boehringer Ingelheim GmbH.
Torrent has been making the drug for Boehringer Ingelheim since 2022 as part of the co-marketing agreement with the company.
PG Electroplast soared 6% to ₹817.20 after the company launched its secondary issue with a floor price of ₹705.20 per share.
Bharat Forge declined 0.2% to ₹1,375.50 after the company launched a secondary offering with a floor price of 1,323.54 per share.
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