Gainers and Losers: 10 stocks that moved the most on August 14

The Sensex was up 79.27 points or 0.12 percent at 65,401.92, while the Nifty rose 6.20 points or 0.03 percent at 19,434.50. About 1,507 shares advanced, 2,108 shares declined, and 160 shares were unchanged.

GE Power India | CMP Rs 160 | Shares took a nearly 14 percent beating on August 14 after the company’s net loss widened to Rs 135.8 crore in the quarter ended June 2023 from Rs 59 crore last fiscal. Revenue was down 13.7 percent to Rs 423.6 crore from Rs 490.9 crore. The company has received an order from Steag Energy Services India Private Limited for renovation and modernisation of 3 boiler of 4X600 MW thermal power plant of Vedanta Limited (End Customer) at Jharsuguda, Odisha.

Muthoot Finance | CMP Rs 1,276 | Shares dropped 5.5 percent on August 14 after broking house Morgan Stanley downgraded the stock, citing risks to growth and yields as competition heats up. The gold loan financing company reported standalone profit of Rs 975 crore for the first quarter of the current year, growing 22 percent over the year-ago period, the company said in an August 11 filing. Total income grew 21 percent year on year (YoY) to Rs 3,026 crore during the same period. The company also got the board’s approval for an infusion of Rs 400 crore in subsidiary Muthoot Money.

PVR Inox | CMP Rs 1,717 | Shares of PVR Inox traded 5 percent higher after the multiplex chain reported highest ever daily and weekend admissions and box office collections. Over the weekend, the company reported that the chain had entertained around 33.6 lakh guests and earned a box office revenue of more than Rs 100 crore. The company reported that it achieved the highest ever admissions and box office in a single-day across its circuit on August 13, 2023 with 12.8 lakh guests and a gross box office revenue of Rs 39.5 crore. This weekend saw strong box office performances from Gadar, Jailer and OMG2.

City Union Bank | CMP Rs 121 | Shares dropped 6 percent on August 14 after the Tamil Nadu-based private sector lender’s net interest income dropped and asset quality worsened in the June quarter. The bank reported a profit of Rs 227 crore, up 1 percent from the year-ago period due to lower operating profit and other income. Elevated provisions and contingencies also impacted profitability, it said on August 11. Net interest income dropped to Rs 523 crore in Q1FY24, from Rs 525 crore in Q1FY23. On asset quality front, gross non-performing assets (NPAs) rose 54 basis points (bps) sequentially to 4.91 percent and net NPA jumped 15 bps quarter on quarter to 2.51 percent in Q1FY24.

ABB India | CMP Rs 4,354 | Shares tumbled 4 percent on August 14 despite the company registering a 101 percent increase in net profit to Rs 296 crore in the April-June quarter. The electrical and automation majors’ revenue from operations stood at Rs 2,508.6 crore during the period under review, up 22.2 percent against Rs 2,052.5 crore in the corresponding period of the preceding fiscal, the company said in a disclosure to the exchanges on August 11.

Amara Raja Batteries | CMP Rs 613 | Shares fell 0.7 percent on August 14 after the company reported a 46 percent spike in net profit at Rs 192 crore for the April-June quarter. The battery manufacturer posted 14 percent surge in revenue from operations to Rs 2,795 crore for the first quarter as against the Rs 2,620 crore reported last year, it said in an exchange filing. The company said that the revenue growth for the quarter was largely aided by robust volume growth in the automotive, telecom and UPS. The company pared gains as it was trading 4 percent higher in today’s session.

JK Cement | CMP Rs 3,141 | Shares were down 5 percent on August 14 after the company reported a 29.5 percent year-on-year (YoY) decline in the consolidated net profit for the June quarter at Rs 114.7 crore. In year-to-date terms, the stock has grown 6.11 percent and has been witnessing consolidation since May 31. The stock has a trailing PE of 63.45x, the highest among its cement-making peers.

Jindal Steel and Power | CMP Rs 662 | Shares of Jindal Steel and Power Ltd slipped over 5 percent on August 14, after the company’s June quarter net profit declined year-on-year (YoY). The company’s quarterly net profit came in at Rs 1,686.94 crore in June 2023, down 14.4 percent from Rs 1,970.13 crore in the year-ago period. Consolidated revenue from operations dropped 3.5 percent on year to Rs 12,588.34 crore during the quarter ended June from Rs 13,045.41 crore in Q1FY23. Total income dropped to Rs 12,643.63 crore in the first quarter. It stood at Rs 13,069.17 crore in the year-ago period.

Adani Enterprise | CMP Rs 2,456 | Shares dropped over 3 percent after the exit of Deloitte Haskins & Sells LLP as the statutory auditor for Adani Ports and Special Economic Zone triggered a sell-off across all group stocks on August 14. All 10 Adani Group stocks traded down in early hours of August 14, with the flagship Adani Enterprises and Adani Ports being the worst hit among Nifty50 stocks on losing around 4 percent.

Timken India | CMP Rs 3,218 | Shares dropped over 5 percent on August 14 after the ball and roller bearing manufacturing company reported a 23.6 percent decline in net profit at Rs 90.1 crore for the quarter ended June FY24, impacted by weak operating performance and tepid growth in topline. The company had posted a net profit of Rs 118.05 crore in Q1 FY23. Revenue from operations during the quarter increased by 2.6 percent to Rs 717.6 crore from Rs 699.24 crore in the year-ago period, it said in a post-market hours regulatory filing on August 11.