Gainers & Losers: 10 stocks that moved the most on July 4

The Indian equity benchmarks closed in green on July 4, the Sensex was up 0.42 percent at 65,479.05, and the Nifty was up 0.34 percent at 19,389.00. About — shares advanced, — shares declined, and — shares remained unchanged.

Bajaj Finance Ltd. | CMP Rs 7860.45 | Bajaj Finance shares surged 7 percent on July 4 as the company reported upbeat numbers for the quarter ended June 2023. The customer franchise as of June 30 stood at 72.98 MM as compared to 60.30 MM as of 30 June 2022. The company also recorded the highest-ever quarterly increase in its customer franchise of 3.84 MM in Q1FY24. The new loans booked during Q1 FY24 grew by 34 percent to 9.94 million compared to 7.42 million in Q1FY23.

Vodafone Idea Ltd. | CMP Rs 7.45 | Shares of Eicher Motors slipped around 2 percent on July 4 after competitor Reliance launched the JioBharat feature price to help 2G users transform into 4G network users, at an affordable cost of Rs 999. JioBharat provides a data allowance of 14GB, which is seven times more data compared to Vi and Airtel plans.

Eicher Motors Ltd. | CMP Rs 3401.80 | Shares of Eicher Motors slipped beyond 6 percent on July 4 after competitor Hero Moto Corp, along with Harley Davidson, announced launch of X440 in India.

IDFC First Bank Ltd. | CMP Rs 78.65 | IDFC First Bank share price slumped over 4 percent on July 4 after the bank announced the share swap ratio for its merger with IDFC Ltd. Shareholders of IDFC Ltd will get 155 equity shares of IDFC First Bank for every 100 equity shares held. Currently, IDFC Limited through its non-financial holding company holds a 39.93 percent stake in IDFC FIRST Bank. Post the merger, the book value per share of the bank would increase by 4.9 percent, as calculated on audited financials as of March 31, 2023.

L&T Finance Holdings Ltd. | CMP Rs 133.35 | Shares of L&T Finance Holdings declined 3 percent on July 4 after Kotak Institutional Equities downgraded the stock to ‘sell’ from ‘reduce’ due to low near- term growth and subdued Return on Equity challenges faced by the company.

IndusInd Bank Ltd. | CMP Rs 1367.35 | Shares of IndusInd Bank rose over a percent in early trade on July 4, reaching a 52-week high of Rs 1,393.65, after receiving board approval for the promoter to increase its stake to 26 percent from the current 15 percent. However, by close the share ended flat.

Rama Steel Tubes Ltd. | CMP Rs 36.25 | Shares of Rama Steel Tubes jumped 5 percent on July 4 morning after the company posted a robust 62 percent on-year growth in sales volume for the first quarter of FY24. By close, the share ended 0.7 percent lower. The company sold 48,437.69 tonnes of structural steel tubes in Q1, compared to 29,833.96 tonnes a year back. The operating profit and net profit of the company declined to Rs 13.98 crore and Rs 9.36 crore, respectively, during the first half of FY23 as against Rs 16.49 crore and Rs 14.19 crore, respectively, last fiscal.

HPL Electric & Power Ltd. | CMP Rs 155.30 | Shares of HPL Electric and Power surged 20 percent on July 4 after the company bagged orders worth Rs 903 crore. The orders are for the supply of smart meters. The company believes that these orders will further bolster its total pending order pipeline which stood at over Rs 2,250 crore as on July 4. The stock also created a new 52-week high of Rs 155.30 on the same day.

NBCC (India) Ltd. | CMP Rs 40.20 | Shares of NBCC (India) Ltd gained over 2 percent on July 4 after the company announced the signing of a memorandum of understanding (MoU) with Currency Note Press (CNP) under Security Printing and Minting Corporation of India Limited (SPMCIL).

Genus Power Infrastructures Ltd. | CMP Rs 140.90 | Genus Power Infrastructures’ share price jumped 9 percent on July 4 after the company secured an order worth Rs 2,207.53 crore. The company received a letter of award (LOA) for the appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 lakhs Smart Prepaid Meters, Feeder Meter, DT Meter level energy accounting. The stock also reached an all-time high of Rs 149.65.