Gainers and Losers: 10 stocks that moved the most on August 29

The Sensex was up 79.22 points or 0.12 percent at 65,075.82, and the Nifty was up 36.70 points or 0.19 percent at 19,342.70. About 2023 shares advanced, 1475 shares declined, and 138 shares were unchanged.

Gokaldas Exports | CMP Rs 735 | Shares were locked in 20 percent upper circuit a day after it entered into a deal to acquire Dubai-based Atraco Group. As of 12:54, the stock was locked at 20 percent in the upper circuit to 735.35, up from yesterday’s close. The equity value of the deal being done through Gokaldas Exports’ subsidiaries is $55 million and will be funded by a mix of debt and internal accruals. Atraco Group is a leading manufacturer of apparel with a strong market position with customer relationships across US and Europe. The transaction is expected to be closed by Q3 FY24.

Gensol Engineering | CMP Rs 1,760 | Share price locked at 5 percent upper circuit after the company bagged Solar EPC projects in Dubai. The company announced its two turnkey maiden international solar engineering, procurement, and construction (Solar EPC) projects with the Dubai Government Workshop Warehouse and the Dubai Police. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of Rs 101.6 crore, without taking taxes into account, the company said in a statement. The two turnkey contracts with the Dubai Government Workshop Warehouse and the Dubai Police entail design, engineering, supply, construction, erection, testing, and commissioning along with an operation & maintenance of these projects.

Indiabulls Real Estate | CMP Rs 78 | Shares gained 5 percent after the company appointed Atul Chandra as the chief operating officer (COO) with effect from August 28. Chandra is the senior vice-president of the company. He joined Indiabulls Real Estate Limited as a senior vice-president in April 2021 and holds a bachelor’s degree in commerce from Jiwaji University, Gwalior. He is a qualified chartered accountant and is an associate member of the Institute of Chartered Accountants of India, the company said in a regulatory filing on the Bombay Stock Exchange (BSE). According to the company, Chandra has over 24 years of experience in various domains of real estate development and asset management, audit, accounting, investment advisory, banking and the financial services industry.

Gulf Oil Lubricants | CMP Rs 548 | Shares surged 4 percent following the company’s 51 percent controlling stake in Tirex Transmission, a manufacturer of DC fast chargers for EVs, Gulf Oil said in an exchange filing on August 28. Tirex Transmission is a key player in manufacturing DC Fast Chargers for EVs in India. It caters to a diverse clientele, including PSUs, charge point operators (CPOs), Automotive OEMs, and retail with a range of chargers available for all vehicle types, including e-Buses. The proposed acquisition is subject to the signing of definitive agreements, and statutory approvals from all parties, the press statement added.

APL Apollo Tubes | CMP Rs 1,622 | Shares fell over 3 percent in early after a block deal involving 1.5 percent stake in the company took place on the bourses today. Around 38 lakh shares, or a 1.5 percent equity, changed hands on the exchanges in a deal worth Rs 624 crore at an average price of Rs 1,618 apiece. Though Moneycontrol could not immediately ascertain the parties involved in the transaction, CNBC-TV18 had previously reported that the company’s promoter was looking to pare some stake.

PG Electroplast | CMP Rs 1,962 | Shares traded 10 percent higher after the company announced raising Rs 500 crore through QIP. The floor price for the qualified institutional placement is set at Rs 1,641.09 per share. Sources told CNBC-TV18 that the QIP proceeds will be utilised for funding capex as well as working capital. The indicative issue price of Rs 1,560 per share is at a discount of up to 13 percent to its last closing price. Implied dilution from this QIP is likely to be 14 percent of the company’s current outstanding equity. Based on the company’s June quarter shareholding pattern, promoters of the company held 61.2 percent stake. QIP is a way through which funds are raised by a company. Unlike an IPO or a FPO, only qualified institutional players are allowed to take part.

Bharti Airtel | CMP Rs 855 | Shares dropped 2 percent after around 1.1 crore shares, representing 0.2 percent equity, worth Rs 922.8 crore, changed hands in block deals at an average price of Rs 852.9 per share on the bourses. Moneycontrol could not immediately ascertain the buyer and seller in the transaction.

Som Distilleries | CMP Rs 319 | Shares traded over 2 percent higher following an announcement by the alco-beverages maker that it had obtained permission to supply in the state of Chhattisgarh. “We have also started the initial dispatches to the state. Looking ahead we are confident of building a meaningful market presence in Chhattisgarh in the medium term,” the company said in a regulatory filing. The Som Group which owns Som Distilleries and Breweries also operates a bottling unit in Bilaspur, Chhattisgarh under the name Legend Distilleries.

Capcite Infraprojects | CMP Rs 204 | Shares traded 4 percent higher after the infrastructure company announced that it had received Rs 575-crore order from the state-owned Rail Vikas Nigam. The order win is for an EPC (engineering, procurement and construction) project in Maldives and has been awarded to a joint venture between Capacite Infraprojects and Mohan Mutha Exports, the company said in a regulatory filing. “Capacite Infraprojects owns a 51 percent share in the joint venture. The project is expected to be completed within 18 months from the date of commencement,” the company said.

Pyramid Technoplast | CMP Rs 177 | Shares traded at a 7 percent premium on its debut to its issue price of Rs 166. The Rs 153-crore issue which was open for subscription between August 18-22, was subscribed 14.72 times in the retail category and 32.24 times in the Non-Institutional Investors (NII) category. The Qualified Institutional Buyers’ (QIB) portion was booked 9.94 times.