Gainers & Losers: 10 stocks that moved the most on June 19

The Indian equity benchmarks closed in the red on June 19, with the Sensex down 216.28 points at 63,168.30 and the Nifty lost 70.55 points at 18,755.45. About 1,667 shares advanced, 1,989 declined and 171 shares remained unchanged. Take a look at the top gainers and the losers of the day:

Som Distilleries and Breweries Ltd | CMP Rs 258.40 | Som Distilleries and Breweries share price rose nearly 5 percent on June 19 after the company said it had commenced trial production at its Odisha plant. Early this month, the company announced that its flagship, Hunter, emerged as the number one strong beer brand in Delhi in May. The market share in Karnataka witnesses phenomenal growth, reaching a historic 20.1 percent during the month. In the quarter ended March 2023, the company reported a 148 percent jump in its net profit at Rs 15.87 crore from Rs 6.39 crore in the year-ago period.

Axiscades Technologies Ltd. | CMP Rs 402.20 | Axiscades Technologies’ share price was locked in a 5 percent upper circuit on June 19 after the technology firm’s approved the acquisition of a German firm. The acquisition of add solution GmbH will be carried out through subsidiary AXISCADES GmbH with a total cost of 5.50 million euro, the company said in an exchange filing. The proposed acquisition will provide a strategic foothold to AXISCADES in the automotive space, besides the opportunity for firm contracts with marquee automotive OEMs.

Shriram Finance Ltd | CMP Rs 1469.85 | Shares of Shriram Finance surged over 5 percent on June 19 after a large block deal took place on the exchanges. Around 99.2 lakh shares or a 2.65 percent stake in the company changed hands on the exchanges in the block deal window at Rs 1,401.15 per share. The total deal value was Rs 1,390 crore. Brokerage firm YES Securities believes the current valuation of Shriram Finance is undemanding on its FY25 estimates and could make a good case for a re-rating on the sustenance of the current AUM (Assets Under Management) growth rate and improvement in asset quality

Jindal Steel and Power Ltd. | CMP Rs 574.50 | Shares of Jindal Steel surged around 6 percent on June 19 after Kotak Institutional Equities upgraded their rating to ‘buy’ with a raised target price of Rs 740. “A sector-leading growth profile along with the strongest balance sheet makes a strong case for re-rating,” the brokerage firm said. The company’s expansion projects totalling about Rs 24,000 crore, announced in May 2021, will gradually be commissioned from October 2023 which will aid earnings from the second half of FY24. These expansion projects – capacity expansion, backward integration, and forward integration – will help in volumes and upgrade of product mix.

Skipper (India) Ltd. | CMP Rs 172.80 | Shares of heavy electrical equipment maker Skipper Limited zoomed 20 percent on June 19 after the company said it bagged fresh orders worth Rs 1,135 crore from the domestic and international markets. The orders include designing, supplying, and constructing of new transmission line projects for Powergrid Corporation as well as tower and pole export supplies to Latin America, the Middle East and North Africa regions.

Ikio Lighting Ltd. | CMP Rs 445.45 | IKIO Lighting shares gained 10 percent on June 19 after a blockbuster debut on June 16. The stock has gained 51 percent from its issue price of Rs 285. On June 16, Quant Mutual Fund via Quant Quantamental Fund acquired 6.01 lakh shares in the company and another 6.02 lakh shares were bought by its Quant Multi Asset Fund, totalling a 2.15 percent stake.

Titagarh Wagons Ltd. | CMP Rs 467.40 | Shares of Titagarh Rail Systems, formerly Titagarh Wagons, surged 10 percent on June 19 to hit a 52-week high at Rs 449.95, with Antique Stock Broking initiating coverage with a “buy” rating. The brokerage firm has set a target price of Rs 694 based on 20 times its FY25 earnings, implying a 54 percent upside from the day’s high. The stock has meaningfully appreciated in the past year, led by a near doubling of profit in FY23. The brokerage firm also added that the stock is cheap at 12 times FY25 earnings and does not capture the long-term growth potential of Titagarh Rail Systems. The stock has shot up over 300 percent in the past year and has risen over 1,300 percent in three years.

FSN E-Commerce Ventures Ltd | CMP Rs 150.45 | Nykaa-owner FSN E-Commerce Ventures Ltd traded around 4 percent higher on June 19. The stock shed nearly 7 percent so far this year, while it gained nearly 13 percent since March 28. The stock is still down 65 percent from its all-time high of Rs 415.52 hit on December 1, 2021, and nearly 42 percent from its 52-week high scaled on July 26, 2022. Nomura has retained its ‘buy’ rating and kept the target price unchanged at Rs 183 a share. Nuvama has kept the ‘buy’ tag and unchanged target price at Rs 186 a share and Kotak has maintained buy ratings and an unchanged target price at Rs 210 a share. Meanwhile, Jefferies India has a bullish call on the stock with a buy rating and expects a 39 percent increase in the stock to Rs 200 a share from the current market price.

Ashok Leyland Ltd. | CMP Rs 167.95 | Shares of Ashok Leyland jumped 2 percent on June 19 to hit a 52-week high of Rs 170.15 as investors cheered for the company’s strong growth outlook. The company, at its Investors’ Day event held on June 15, set forth a medium-term target to achieve 35 percent market share in the medium and heavy commercial vehicle (MHCV) segment, a 25 percent share in light commercial vehicle (LCV) and mid-teen EBITDA (Earnings before interest, taxes, depreciation, and amortization) margin. The company’s EBITDA margin was at 8.1 percent in FY23.

Bank of Baroda | CMP Rs 193.75 | Shares of Bank of Baroda rose 3 percent on June 19 as it became India’s second public sector bank to surpass a Rs 1 lakh crore market cap with the stock hitting a fresh record high of Rs 194 per share. The stock is up nearly 20 percent since March 28. The strong gains came after robust earnings in the March quarter as well as for the whole year of FY23. The lender reported its highest quarterly net profit of Rs 4,775 crore in the March quarter, recording a 168 percent year-on-year rise. Annually, the bank recorded a profit of Rs 14,110 crore, up 94 percent from Rs 7,272 crore.