Gainers & Losers: 10 stocks that moved the most on August 9

The Sensex was up 149.31 points or 0.23 percent at 65,995.81, and the Nifty was up 61.70 points or 0.32 percent at 19,632.50. About 1966 shares advanced, 1524 shares declined, and 136 shares unchanged.

Kalyan Jewellers | CMP Rs 183| Shares of the company traded 3 percent higher and hit a 52-week high of Rs 189 on August 9 after the southern gold-ornament maker reported a 33.3 percent year-on-year (YoY) rise in net profit at Rs 144 crore for the June quarter of the current financial year. The company’s revenue was up 31.3 percent YoY at Rs 4,375.7 crore. Earnings before interest, taxes, depreciation and ammortisation (EBITDA) were up 22.2 percent at Rs 322.8 crore but the EBITDA margin for the quarter slipped by 50 basis points to 7.4 percent.

Taylormade Renewables | CMP Rs 563 | Shares on August 9 were locked in 5 percent upper circuit to hit a 52-week high on winning multiple orders. The company Renewables has received new work order for the public health & municipal engineering department, the government of Andhra Pradesh for providing stormwater drainage network, improvement of outfalls & construction of a sewage treatment plant (STP) & WTP in Proddatur Municipality worth Rs 159.22 crore.

Ideaforge Technology | CMP Rs 1,007 | Shares of the drone manufacturer traded 6.5 percent lower on August 9 after its quarterly net profit slumped 54.3 percent year-on-year to Rs 18.86 crore and revenue from operations declined 2.2 percent to Rs 97 crore.

Mishra Dhatu Nigam | CMP Rs 347 | Shares tanked 7 percent on August 9 as market participants fretted over contraction in margins. Operating margin came in at 22.13 percent in the June quarter as against 28.73 percent last fiscal. A sharp surge in input costs and employee benefit expenses dented profitability. Consolidated net profit was up merely 5 percent on-year to Rs 18.71 crore in the quarter under review but revenue jumped 63 percent on-year to Rs 187.72 crore and EBITDA surged about 26 percent to Rs 41.54 crore.

Gujarat Alaklies | CMP Rs 653| Shares slumped 1.4 percent on August 9, a day after the company posted a dismal set of earnings for the April-June quarter. Aligned with the weak earnings trend seen across the chemicals sector, Gujarat Alkalies also reported a net loss of Rs 57.20 crore for the June quarter. In stark contrast, the chemicals player had recorded a net profit of Rs 190.90 crore in the same period of the preceding fiscal. The stock pared losses as share price slumped 5 percent in today’s session.

EPL | CMP Rs 290 | Shares tumbled 4.3 percent on August 9 as analysts are worried about the pace of revenue growth of the packaging company. Its consolidated net profit surged about 59 percent on-year to Rs 55.60 crore in the June quarter driven by a better product mix with a rise in personal care mix, selective price hikes and lower input costs.

Inox Wind | CMP Rs 224| Shares traded 0.2 percent lower on August 9 – a day after it sold more than 1.46 crore equity shares of its subsidiary Inox Wind through a block deal to institutional investors. Inox Wind Promoters Inox Wind Energy and Devansh Trademart LLP sold 1.46 crore equity shares and 93.48 lakh shares through open market transactions at an average price of Rs 208 per share. ICICI Prudential Mutual Fund and Nippon India Mutual Fund bought 50.48 lakh shares and 96 lakh shares at the same price, totaling 4.49 percent of the total paid-up equity of Inox Wind. The stock pared gains as it was trading 4 percent higher in early trade.

Tilaknagar Industries | CMP Rs 187 | Shares of the alcohol manufacturer traded 5 percent higher a day after the alcoholic beverage company’s net profit grew 25 times year-on-year to Rs 25.7 crore in the June quarter. Revenue increased 32.5 percent YoY to Rs 304 crore in Q1FY24. Earnings before interest, tax, depreciation and amortisation grew 76.8 percent to Rs 38.4 crore. Sales volumes were up by 42 percent to 25 lakh cases in the quarter under review.

Suzlon Energy | CMP Rs 19 | Shares rallied nearly 5 percent on August 9 after the company received shareholders’ approval for raising funds. In July, the company’s board approved a proposal to raise up to Rs 2,000 crore from various financial routes. In July, the renewable energy solutions provider bagged an order for a 47.6 MW wind power project from KP Group in Gujarat. The project is located at Vagra in Bharuch district and is expected to be commissioned in 2024.

Jay Bharat Maruti | CMP Rs 307 | Shares were locked in the 5 percent lower circuit on August 9 after the auto-components manufacturer posted a 35 percent decline in net profit for the quarter ended June 2023. The company’s consolidated profit after tax (PAT) dropped to Rs 5.16 crore from Rs 7.90 crore in Q1 FY23 and from Rs 14.33 crore in the quarter ended March 2023. Revenue from operations came in at Rs 533.17 crore.