Market Updates
India Movers: Afcons, Canara Bank, FSN E-Commerce, Garden Reach Shipbuilders, RITES, Vodafone Idea
Arun Goswami
06 Dec, 2024
Mumbai
The Reserve Bank of India held its key lending rates steady, lowered its economic growth outlook for the second half and fiscal year 2025, and cut the cash reserve ratio for banks for the first time since 2020.
The Sensex index decreased by 0.2% to 81,611.91, and the Nifty index dropped by 0.2% to 24,667.40.
On the Mumbai stock exchange, 173 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.
Afcons Infrastructure Ltd. increased 0.9% to ₹529.55, and the company completed a tunnel project for Delhi Metro Rail Corporation on the Tughlakabad-Aerocity corridor.
Rites Ltd. increased 3% to ₹296.30, and the construction company was selected for a ₹148.25 crore project to build the second phase of the campus for the Indian Institute of Management Raipur.
Garden Reach Shipbuilders & Engineers increased 1% to ₹1,780.0 after the company signed a contract to deliver a second multi-purpose 7,500 DWT vessel to Germany.
FSN E-Commerce Venture decreased 1.6% to ₹164.72 after the company's chief executive, Nihir Parikh, resigned from the company with immediate effect.
Canara Bank rose 2.3% to ₹110.69, and the Reserve Bank of India approved the company's plans to sell stakes in its mutual funds and insurance subsidiaries through a public offering.
The company's board approved the stake sale earlier in the year in March.
Vodafone Idea rose 8.2% to ₹8.21, and the company's board has scheduled a meeting to discuss a plan to raise ₹2,000 crore from promoter group entities.
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