Gainers and Losers: 10 stocks that moved the most on August 10

The Sensex was down 307.63 points or 0.47 percent at 65,688.18, and the Nifty was down 89.45 points or 0.46 percent at 19,543.10. About 1634 shares advanced, 1875 shares declined, and 123 shares were unchanged.

Force Motors | CMP Rs 3,040 | Shares raced 10 percent to hit a 52-week high of Rs 3,040 and were locked in the upper circuit on August 10 after the automobile company turned profitable in the April-June quarter. The company reported a consolidated profit of Rs 68.6 crore for the quarter ended June FY24, against a loss of Rs 16.6 crore in the year-ago period, it said in an exchange filing on August 9.

CMS Info Systems | CMP Rs 363 | Shares fell nearly 7 percent on August 10 after 3.2 crore shares, or 21.6 percent stake in the company worth Rs 1,163 crore, changed hands in a bunch of trades, according to CNBC-TV18. The buyers and sellers were not immediately known.

Thomas Cook | CMP Rs 105 | Shares of Thomas Cook (India) traded 3.5 percent higher and surged to their 52-week high on August 10 after the travel services firm swung back into the black in Q1 with a net profit of Rs 70.9 crore. Thomas Cook (India) had posted a consolidated net loss of Rs 6 crore in Q1 FY23. Sequentially too, it had reported a loss of Rs 10.2 crore in the quarter ended March 2023. Its income from operations climbed 94.5 percent to Rs 1,899 crore in Q1 FY24 compared to Rs 976 crore in the year-ago quarter.

BSE | CMP Rs 889 | Shares of BSE Ltd slumped 4 percent on August 10 as investors took the company’s positive earnings for the April-June quarter as an opportunity to book partial profits. The stock had surged around 24 percent in the past two weeks, which gave investors more leeway to take partial profits home. As for the company’s performance in Q1, the stock exchange recorded a net profit of Rs 440 crore for the June quarter. This figure reflects a 11x surge in net profit from Rs 40 crore reported during the same quarter last year. The stock pared losses as it fell over 6 percent in today’s session.

GMR Power | CMP Rs 20 | Shares of GMR Power and Urban Infrastructure fell 6 percent on August 10 as a dull earnings performance during the June quarter triggered selling in the stock. The company reported a consolidated net loss of Rs 217.75 crore in the June quarter as against a net profit of Rs 201.67 crore a year ago.

Max Financial | CMP Rs 855 | Max Financial Services gained 8.7 percent on August 10, after the company reported a good set of numbers for the quarter ended June 2023. Furthermore, investors cheered Axis Bank’s remaining ~6 percent stake acquisition in Max Life Insurance, a material subsidiary of Max Financial. Axis Bank will be acquiring the stake at Rs 1,612 crore. Axis entities collectively already held 12.99 percent of the equity share capital of Max Life. Post this acquisition, their stake will go up to 19 percent. The stock price gained as high as 10 percent in today’s session.

Varroc Engineering | CMP Rs 379 | Shares of Varroc Engineering Ltd. jumped 11 percent on August 10 after the company reported a profit in Q1FY24 against a loss, a year ago. The company posted a net profit of Rs 55 crore in Q1FY24. This positive shift is attributed to company’s robust performances in both domestic and export markets, along with receipt of specific incentives from the government. Varroc Engineering Ltd.’s revenue jumped 10.4 percent in Q1 from a year ago to Rs 1805.70 crore. EBITDA jumped 34 percent YoY to Rs 180.20 crore while EBITDA margin expanded to 10 percent from 8.2 percent year ago driven by business mix, incentives & operating leverage.

Granules India | CMP Rs 301 | Granules India traded 6.4 percent lower on August 10 afternoon after the company reported a 62.4 percent year-on-year (YoY) decline in the June quarter net profit at Rs 47.9 crore. Granules India reported a 3.3 percent YoY decline in revenue from operations at Rs 985.5 crore. The earnings before interest, taxes, depreciation and ammortisation (EBITDA) were down 35.3 percent at Rs 136.8 crore. The EBITDA margin contracted by 680 basis points to 13.9 percent.

Paytm | CMP Rs 858 | Shares were up 2.5 percent on August 10 after the Reserve Bank of India proposed to increase the minimum limit for UPI Lite transactions. The central bank on August 10 announced that it will increase the limit for UPI-Lite to Rs 500. The minimum limit earlier was Rs 200. UPI-Lite was launched to facilitate lower-value transactions like the ones for payment of groceries, milk, eggs, etc. The feature was launched so that UPI can handle such continuous transactions and make the process smoother.

Sunteck Realty | CMP Rs 371 | Shares traded 4.3 percent lower on August 10 after the company reported losses for yet another quarter. Sunteck Realty reported a net consolidated loss of Rs 6.73 crore during the quarter ended June 30, 2023. The company narrowed the losses from the previous quarter but stayed in the red when compared to the net profit recorded last year. The company’s net consolidated total income stood at Rs 88.41 crore in Q1 FY24, falling 40.55 percent from Rs 148.71 crore last year.