Gainers & Losers: 10 stocks that moved the most on July 17

The Indian equity benchmarks touched new all-time highs on July 17, with the Sensex ending 0.80 percent higher at 66,589.93, and the Nifty ending 0.75 percent higher at 19,711.50. About 2,013 shares advanced, 1,559 declined and 174 remained unchanged.

Sterling and Wilson Renewable Energy Ltd. | CMP Rs 333.50 | Shares of SWREL were up 16 percent on July 17 as the company secured two new domestic orders and is expected to improve EBITDA margins by FY25E. Brokerage house Nuvama has given the stock a buy rating with TP at Rs 454. This comes as the company has turned the corner in Q1FY24, bagged two domestic orders worth Rs 500 crore in Q1 and anticipates orders worth $1 billion from Nigeria. The research firm believes SWREL is poised for a V-shaped recovery for FY24.

Dr Reddys Laboratories Ltd. | CMP Rs 5229.75 | Shares of Dr Reddy’s Laboratories rose around 3 percent on July 17 after the company announced signing a pact for buying a 26 percent stake in special purpose vehicle O2 Renewable Energy IX Private Limited. The pharma major has entered into an agreement with TEQ Green Power XI Pvt Ltd and O2 Power SG Pte Ltd for buying a stake in the renewable energy firm.

Avenue Supermarts Ltd. | CMP Rs 3713.55 | Avenue Supermarts shares were down 3 percent in on July 17 after the company reported a 140 basis points fall in their EBITDA margins for the April to June quarter. EBITDA margins fell 140 basis points to 8.9 percent in the April to June quarter as compared with the same quarter in the last year, said the D-mart operator company in an exchange filing. In Q1FY24, the company’s standalone net profit increased by 2.3% YoY to Rs 695 crore, while standalone revenue from operations grew by 18.1% YoY to Rs 11,584 crore. Standalone EBITDA also rose by 2.8% YoY to Rs 1036 crore. Avenue Supermarts’ net profit for the April to June quarter missed analyst estimates by 8%, falling short of the predicted Rs 715 crore by four brokerage firms.

Suzlon Energy Ltd. | CMP Rs 18.20 | Suzlon Energy share price rose 3 percent on July 17 on an order win from Everrenew Energy for the development of a 100.8 MW wind power project. The company announced the receival of the order on July 14. The Suzlon Energy share touched a 52-week high of Rs 18.54 and a 52-week low of Rs 5.43 on 12 July, 2023 and 28 July, 2022, respectively.

Angel One Ltd. | CMP Rs 1587.85 | Angel One shares were down over 7 percent on July 17 after the stock exchange barred the broking firm from onboarding any new sub-brokers for the next six months. The directions issued to the broking firm include a monetary penalty of Rs 1.66 crore. It has also been asked to conduct an inspection of all its APs and submit a report to the satisfaction of the exchange within a period of six months from the date of the order.

Just Dial Ltd. | CMP Rs 798.15 | Just Dial Ltd shares were up 3 percent at Rs 858.55 on July 13 at 9:20 am, after the company announced its financial and operating results for its first fiscal quarter ending June 30, 2023. The stock hit a new 52-week high on July 17 at Rs 879 and has risen around 50 percent from its lows seen in March. By close the stock ended over 4 percent lower.

JSW Energy Ltd. | CMP Rs 293.30 | Shares of JSW Energy tumbled nearly 4 percent on July 17 as many analysts reiterated their ‘sell’ call on the energy company’s stock after it reported its Q1 numbers on July 14. The company posted a 46 percent year-on-year (YoY) decline in consolidated net profit to Rs 290.35 crore for the quarter ended June. This was primarily due to due to the one-time impact of non-operational expenses of the recent Mytrah buyout and Ind-Barath 700 MW thermal NCLT deal.

GTPL Hathway Ltd. | CMP Rs 132.25 | GTPL Hathway shares jumped 15 percent on July 17 following the company’s announcement of its financial and operating results for the first fiscal quarter ending June 30, 2023. The digital cable TV and wireline broadband service provider’s revenue for the quarter grew by 22.7 percent year-on-year (YoY) to Rs 774.4 crore. The average revenue per user (ARPU) for the company stood at Rs 460, up by Rs 10 YoY.

Sheela Foam Ltd. | CMP Rs 1187.05 | Sheela Foam Limited jumped 6 percent on July 17 with 30,000 shares changing hands on the NSE. The gain in stock price comes after Moneycontrol reported that the company will acquire rival Kurlon Enterprise for Rs 2,150 crore in one go, instead of paying Rs 3,250 crore across two tranches.

Ircon International Ltd. | CMP Rs 83.60 | Ircon International Limited shares gained over 4 percent on July 17 after the company announced it has commissioned the first phase of upgradation of the railway line from Maho to Omanthai track rehabilitation project from the Sri Lanka Railways.