Gainers and Losers: 10 stocks that moved the most on August 16

The market made a smart recovery in the last hour to close with gains. The Sensex was up 137.50 points or 0.21 percent at 65,539.42 and the Nifty was up 30.50 points or 0.16 percent at 19,465.00. About 1,746 shares advanced, 1,760 declined and 130 remained unchanged.

Pennar Industries | CMP Rs 92.5 | The share gained 6.5 percent to touch a 52-week high on August 16 after the company bagged orders worth Rs 702 crore. The orders are expected to be executed within the next two quarters. In the pre-engineered buildings (PEB) category, the company has won orders from top firms including Tata Electronics, SKB Builders, Anthea Pharma, Powertech, Godrej Boyce, Radiant Vyapaar, Revolve and Indospace. The Hyderabad-based company has also secured orders from Ashok Leyland, Yamaha, Emerson, Endurance and Hydraulics, among others, in the ICD business vertical.

Ujjivan Small Finance Bank | CMP Rs 48 | The shares traded 2.5 percent higher after BNP Paribas Arbitrage and Abakkus Emerging Opportunities Fund picked up a 1.5 percent stake in the non-banking finance company. On August 14, Newquest Asia Investments II sold 30 lakh equity shares, or 2.46 percent stake, in Ujjivan Financial Services in the open market at an average price of Rs 495.19 a share. Abakkus Emerging Opportunities Fund-1 acquired 11.50 lakh shares and BNP Paribas Arbitrage 6.79 lakh, the company said.

Indiabulls Housing | CMP Rs 165 | The scrip closed nearly 5 percent higher, paring early losses after a muted Q1 show. The company reported a consolidated profit at Rs 296.2 crore for the first quarter of FY24, rising 3.3 percent over the corresponding period of the previous fiscal. However, net interest income fell by 5.8 percent to Rs 546.5 crore during the period.

Tejas Networks | CMP Rs 843 | The share gained 4 percent after the company executed the master contract with Tata Consultancy Services (TCS) towards supply, support, and annual maintenance services of Radio Access Network equipment for BSNL’s Pan-India 4G/5G network for approximately 100,000 sites. The company received a purchase order worth Rs 7,492 crore. The supply of the equipment is to be executed by the company during the calendar years 2023 and 2024 and support and maintenance services will be nine years post the warranty period.

InterGlobe Aviation | CMP Rs 2,458 | The shares of IndiGo operator slumped 3.5 percent after a block deal involving 5.1 percent equity in the company. Around two crore shares in the company changed hands through a deal worth Rs 4,837 crore. Though Moneycontrol could identify the buyers and sellers, it had reported that the promoter entity, the Gangwal family led by Rakesh Gangwal, was looking to raise $450 million or around Rs 3,735 crore via a block trade, further paring stake in the low-cost carrier.

IIFL Securities | CMP Rs 69 | The share jumped 8 percent after Bloomberg reported a huge block deal where 12 million shares, or 3.9 percent stake, in the financial services company changed hands. Details of the buyers and sellers were not known. The stock has been volatile in the past few sessions after the Securities and Exchange Board of India (SEBI) prohibited the company from accepting new clients for two years for violating the code of conduct for brokers. The order was recently stayed by the Securities Appellate Tribunal (SAT), granting interim relief to the company.

Vodafone Idea | CMP Rs 7 | The scrip tanked over 3 percent after the company’s net loss widened 7 percent to Rs 7,840 crore in the April-June quarter. During the same period last year, the telecom major reported a net loss of Rs 7,297 crore, the company said in an exchange filing on August 14. Revenue from operations rose by a marginal 2 percent to Rs 10,655 crore in the first quarter, compared with Rs 10,410 crore in the same quarter of last year.

Balaji Amines | CMP Rs 2,107 | The share tumbled over 3 percent after the company delayed its June quarter results following the resignation of five independent directors in May, causing panic among investors. “In accordance with the Sebi master circular, we would like to submit that there has been a delay in the preparation of the consolidated financial results on account of the unavailability of the management,” Balaji Amines said in an exchange filing on August 14.

Hindustan Copper | CMP Rs 143 | The share tanked over 6 percent after the company posted weak first-quarter numbers. The state-owned company posted a 17.54 percent decline in net profit at Rs 47.28 crore on account of higher expenses. Total income, however, increased to Rs 384.73 crore from Rs 359.13 crore a year ago, jumping nearly by 7 percent. The expenses rose to Rs 322.53 crore against Rs 280.76 crore in the year-ago period. Copper prices will likely be volatile on weak global demand and the US dollar’s movement, though they are expected to improve by the end of 2023.

Uflex | CMP Rs 376 | Shares were down 7 percent on August 16 after the packaging company reported a loss of Rs 416.18 crore in the June quarter against a profit of Rs 374.49 crore in the year-ago period. It was a loss-making quarter due to an exceptional expense of Rs 381.55 crore incurred due to changes in the Central Bank of Nigeria’s (CBN) forex policy. In June 2023, the reintroduction of the willing buyer and willing seller model at the importers and exporters window had led to devaluation of Nigerian Naira by 62 percent against the US dollar. The company said this development resulted in forex losses.