Shares of electrical equipment maker Pavna Industries traded in green on Friday, January 16, 2025, amid a rally in the Indian benchmark indices. The stock opened flat at Rs 20.07 and later gained to touch the high of Rs 20.96, a gain of 4.4 per cent from the previous close. Last seen, the scrip held firmly in green at Rs 20.49 with a gain of 2.09 per cent. The 52-week high of the stock is Rs 58.44 and the 52-week low is Rs 19.28. The market cap of the company stood at Rs 285.90 crore. Technically, the stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Signs pact to invest Rs 250 crore in UP
Earlier, the company signed an agreement with the Uttar Pradesh government to invest Rs 250 crore in the state. As part of a memorandum of understanding (MoU), it will invest the amount over the next 3-5 years to boost production of businesses, the company said in a statement.
The proposed investment aims to create 500 jobs in Uttar Pradesh. However, the company did not share any further information.
Based in Aligarh (UP), Pavna Industries manufactures electrical equipment for application in automobiles.
Stock market today
Equity benchmark indices Sensex and Nifty rallied in early trade on Friday, driven by a sharp jump in Infosys after the company raised its revenue growth guidance for FY26. The 30-share BSE Sensex climbed 343.44 points to 83,726.15 in early trade. The 50-share NSE Nifty went up by 77.65 points to 25,743.25.
Foreign institutional investors offloaded equities worth Rs 4,781.24 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,217.28 crore, according to exchange data.
Stock markets were closed on Thursday on account of the Maharashtra civic polls.
In Asian markets, South Korea's Kospi index traded higher, while Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index quoted lower.
US markets ended higher on Thursday.
Brent crude, the global oil benchmark, dipped 0.24 per cent to USD 63.61 per barrel.
On Wednesday, the Sensex dropped 244.98 points or 0.29 per cent to settle at 83,382.71. The Nifty declined 66.70 points or 0.26 per cent to 25,665.60.
