Gainers and Losers: 10 stocks that moved the most on August 31

The benchmark indices closed lower as weak global cues and August expiry volatility weighed the market down. The Sensex closed 255.84 points or 0.39 percent lower at 64,831.41, and the Nifty was down 93.70 points or 0.48 percent at 19,253.80. About 1,805 shares advanced, 1,703 declined and 142 remained unchanged.

Maruti Suzuki | CMP Rs 10,000 | The stock closed over 2 percent higher after hitting a 52-week high of Rs 10,064 intraday ahead of the release of monthly sales figures. Investors also cheered global brokerage JP Morgan’s analysis that placed India’s leading automobile manufacturer on the positive catalyst watch. Analysts tracking the sector believe that consensus is baking in optimistic scenarios such as sustenance of market share improvement and an improvement in margins even against the backdrop of rising discounts and inventory. “We see potential for the stock to outperform the broader market,” the brokerage said on August 30.

Medplus Health | CMP Rs 811 | The stock plunged nearly 9 percent after a block deal involving a 12.8 percent stake, worth Rs 1,319 crore, took place on the bourses. Even though buyers and sellers involved in the transaction could not be identified immediately, CNBC-TV18 had reported earlier that early investors in the company, Lavender Rose and PI (Premji Invest) Opportunities Fund, were together looking to sell a total of 8.1 percent stake through block deals.

Gallant Ispat | CMP Rs 93 | The shares zoomed 7 percent after the company announced having received one out of the two railway rakes purchased from the East Coast Railway. The steel-maker on July 9 said it ordered two rakes worth Rs 55 crore to tide over the shortfall of rail wagons at its disposal. “The purchase is expected to ease the logistics of transferring iron ores from the point of origin to the company’s steel manufacturing facility. Further, this purchase is expected to save 25 percent of the freight costs incurred by the company,” it had said.

Prudent Corp | CMP Rs 1,077 | The stock plunged 10 percent after shares worth Rs 420 crore changed hands in a block deal. A total of 37 lakh shares, representing 9 percent equity capital, changed hands at Rs 1,129.50 apeice, CNBC-TV18 reported. The buyers and sellers involved in the transaction could not be immediately identified.

Aeroflex Industries | CMP Rs 163 | The stock dipped 15 percent on the second day of its listing after the company’s impressive debut left analysts mixed on its future outlook. “We suggest investors who receive allotment to hold it from a long-term perspective and use every opportunity in price correction to accumulate the shares,” said Parth Shah, Research Analyst, StoxBox in a conversation with Moneycontrol.

Sula Vineyards | CMP Rs 489 | The share ended nearly 4 percent lower after 13.1 percent equity changed hands in a block deal on August 31. Around 1.1 crore shares changed hands at an average of Rs 490 apiece, a 3.8 percent discount to the previous day’s close of Rs 508.70. The transaction was worth Rs 540 crore. Even though buyers and sellers involved in the transaction could not be identified immediately, CNBC Awaaz had earlier reported that Verlinvest Asia Pte, a major institutional investor in India’s only listed winemaker, was looking to pare a 12.56 percent stake.

Adani Green | CMP Rs 928 | Shares of the company slumped the most out of all Adani companies at about 4.3 percent, a day after the non-profit Organized Crime and Corruption Reporting Project (OCCRP) alleged that the Adani Family partners invested millions to buy own group shares through opaque investment funds based in Mauritius. The company has denied the charges.

BHEL | CMP Rs 121 | Shares were up over 2 percent and also hit a new 52-week high of Rs 121.15 on August 31 after the engineering PSU won a Rs 15,530-crore order from state-run NTPC for a thermal power plant. The order comes days after BHEL bagged a Rs 2,242-crore work from NHPC and a Rs 4,000-crore order from an Adani Power subsidiary. HEL will set up the 2×800 MW Supercritical Thermal Power Project Stage-II at Lara in Chhattisgarh for NTPC. The order was won through International Competitive Bidding.

Zomato | CMP Rs 97 | The stock declined over 2 percent after SVF Growth sold 1.16 percent equity in Zomato at Rs 94.7 per share in a bulk deal on August 30. The total deal size was worth Rs 947 crore. SVF Growth’s shareholding in the company was 3.35 percent or 28.71 crore shares as of June 2023. A total of 26 crore Zomato shares changed hands on the exchanges on August 30, which was two times higher than its monthly traded average.

Spandana Sphoorty | CMP Rs 827 | The stock gained 3.5 percent after Max Life and Kotak Mahindra Life acquired a 3.2 percent stake in the company. Prominent investor Valiant sold 4.9 percent equity. Max Life Insurance Company’s High Growth Fund, Max Life Insurance Company A/C PAR, and Kotak Mahindra Life Insurance Company Limited’s Classic Opportunities Fund bought a total of 3.2 percent stake in the company, which means they now own 22.77 lakh shares. These shares were bought directly from the market at Rs 765 apiece.