Gainers & Losers: 10 stocks that moved the most on July 31

The Indian equity benchmarks closed in the green on July 31, with the Sensex ending 0.56 percent higher at 66,527.67, and the Nifty ending 0.55 percent higher at 19,753.80. About 2162 shares advanced, 1415 declined and 187 remained unchanged.

Piramal Enterprises Ltd. | CMP Rs 1011.75 | Shares of Piramal Enterprises slumped 6 percent on July 31 after the company reported a sharp drop in pre-provisioning operating profit (PPOP) – which excludes provision, exceptional items and taxes – for the quarter ended June 2023. The company said its PPOP came in at Rs 263 crore, down 58 percent year on year (YoY), which reflects a weak business for the company. Overall, the company managed to report a 24 percent growth in net profit led by gains from the sale of Shriram Finance stake sale worth Rs 4820 crore at Rs 1545 per share.

NTPC Ltd. | CMP Rs 218.35 | Shares of NTPC rallied 4 percent on July 31 despite lukewarm earnings in the quarter ended June. The country’s largest power generation company reported a standalone net profit of Rs 4,066 crore for the first quarter of financial year 2023-24, up 9 percent on-year, while its revenue was down 2 percent to Rs 39,122 crore. CLSA said ‘buy’ the stock with a target price of Rs 240. It sees the return on equity rising 180 bps over FY23-25 for NTPC. The stock also hit a 52- week high of Rs 218.95 on the same day.

Bandhan Bank Ltd. | CMP Rs 223.40 | Shares of Bandhan Bank traded up 3 percent on July 31 after 1.76 crore shares changed hands on the exchanges in an early trade, CNBC-TV18 reported on July 31. The deal was valued at Rs 385.4 crore and the shares made up 1.1 percent of the total equity of Bandhan Bank. Details about buyers and sellers are yet to be disclosed. On July 21, BNP Paribas bought around 80 lakh Bandhan Bank shares for Rs 211 in a bulk deal.

Power Grid Corporation of India Ltd. | CMP Rs 266.05 | Shares of Power Grid Corporation of India spiked 3 percent on July 31 after the company was declared a successful bidder for a host of inter-state transmission system projects. A meeting of the board of directors of the company is scheduled later on July 31st to consider the unaudited financial results of the company for the quarter ended June 30, 2023 and declaration of bonus shares subject to approval of shareholders of the company.

Siemens Ltd. | CMP Rs 3983.00 | Shares of Siemens rose over 3 percent on July 31 after majority of shareholders voted against selling its low-voltage motors and geared motors business to Siemens Large Drives India, a subsidiary of Siemens AG. Around 74 percent of the votes opposed the resolution to approve the transactions between the two companies, as per the exchange filing dated July 28. The stock also hit a 52- week high of Rs 4068.85 on the same day.

Ujjivan Small Finance Bank Ltd. | CMP Rs 48.20 | Ujjivan Small Finance Bank shares gained nearly 9 percent on July 31 after the lender reported a 60.3 percent year-on-year increase in net profit at Rs 324 crore in the first quarter of FY24, its best quarterly performance. It had a net profit of Rs 202 crore a year back. The bank’s net interest income (NII), the difference between the interest earned from lending activities and interest paid to depositors, stood at Rs 793 crore, up 32 percent from Rs 600 crore last year. The bank’s asset quality also improved as the gross non-performing assets reduced substantially to 2.62 percent from 6.51 percent in the year-ago period. The stock also hit a 52- week high of Rs 49.15 on the same day.

Nazara Technologies Ltd. | CMP Rs 694.20 | Nazara Technologies Limited shares surged over 4 percent on July 31, despite warnings from the company that the new GST structure might affect the performance of its skill-based real money gaming segment. The stock had fallen nearly 13 percent after the state levied 28 percent GST on online gaming. The gaming company’s net profit jumped 31 percent to Rs 21 crore in the first quarter of this financial year from Rs 15 crore a year back. Revenue from operations stood at Rs 254.4 crore, up 14 percent, during this period.

Five- Star Business Finance Ltd. | CMP Rs 732.55 | Shares of Five Star Business Finance surged 9 percent in early trade on July 31 after the non-bank lender logged a 31.8 percent jump in net profit to Rs 183.7 crore for the first quarter of this fiscal. The company’s net profit stood at Rs 139.4 crore in the corresponding period of the previous year FY23, it said in an exchange filing on July 29. Its revenue soared 42.2 percent to Rs 480.4 crore from Rs 337.9 crore in Q1 FY23, while disbursements jumped 99 percent YoY to Rs 1,132 crore during the same period. By close the share ended 1 percent higher.

Power Mech Projects Ltd. | CMP Rs 4614.65 | Share price of Power Mech Projects surged over 9 percent on July 31 after the company said it had won a mine development contract worth Rs 30,438 crore from Steel Authority of India Limited (SAIL). Power Mech Projects has been awarded a mine development and operation (MOO) project located in Jharia Coal Fields, Ohanbad in Jharkhand, over the contract period – where 28 years will be the concession period of the mine including two years of development period.

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