India Movers: Indowind, IOL Chemicals, IPCA Labs, Gujrat Toolroom, Gulshan Polyols, Swelect Energy, Vakrangee

Arun Goswami
19 Dec, 2024
Mumbai

India's benchmark indexes extended weekly losses to nearly 2% following the weakness in Asian markets after rate decisions from the U.S. Federal Reserve and the Bank of Japan. 

The Sensex index decreased by 0.9% to 79,409.64, and the Nifty index declined by 1.0% to 23,966.

On the Mumbai stock exchange, 84 stocks traded at their 52-week highs, and 45 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.79%, and the Indian rupee eased to 85.04 against the U.S. dollar.

IPCA Laboratories Ltd. increased 2.2% to ₹1,546.60, and the company promoter Usha M Chandurkar lowered her stake in the company to 1.6% from 3.3%. 

Chandurkar sold 40 lakh shares at an average price of ₹1,501.52 and raised ₹601 crore. 

IOL Chemicals and Pharmaceuticals Ltd. advanced 5.6% to ₹430.20 after the company scheduled a board meeting on December 27 to consider a stock split. 

Indowind Energy Ltd. edged up 0.4% to ₹25.51 after the company's board approved a rights issue of ₹50 crore and an international offering of $30 million. 

Vakrangee Limited soared 7% to ₹31.25 after the company struck a partnership with Canara Bank to offer banking services through its network of stores.

Gulshan Polyols Ltd. gained 3.2% to ₹181.07 after the company received a production-linked incentive of ₹2 per liter for bio-ethanol, totaling ₹50 crore over three years.

Gujarat Toolroom decreased 2.3% to ₹13.60, and the company announced a secondary offering to raise as much as ₹95.7 crore with a floor price of ₹13.30 per share. 

Swelect Energy Systems advanced 5.4% to ₹1,132.60 after the company said it plans to sell nonconvertible debentures to raise as much as ₹138.5 crore.