Gainers and Losers: 10 stocks that moved the most on September 8

The Sensex was up 333.35 points or 0.50 percent at 66,598.91, and the Nifty was up 93.00 points or 0.47 percent at 19,820.00. About 1,978 shares advanced, 1,581 shares declined and 131 shares were unchanged.

L&T | CMP Rs 2,900 | The company rose two percent, extending gains from the previous trading session after it bagged an order for Saudi Aramco’s Jafurah unconventional gas development project likely valued at nearly $4 billion. The engineering major’s market capitalisation on September 7 topped Rs 4 lakh crore. Other firms with a market capitalisation in excess of Rs 4 lakh crore market cap are Reliance Industries, TCS, HDFC Bank, Infosys and ICICI Bank to name a few.

Landmark Cars | CMP Rs 815 | Shares were up 13 percent after the company signed a dealership agreement with Mahindra & Mahindra. This dealership will be established in one of the wholly-owned subsidiaries of the company Landmark Mobility. This business will include sales and after-sales of Mahindra’s Personal, Pickup and Supro range of vehicles in the areas of Howrah, Hooghly, Kolkata, North and South 24 Parganas.

Mazagon Dock | CMP Rs 2,219 | Shares were up over 6 percent after the company signed a master ship repair agreement (MSRA) with the US Government, represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka. This is a non-financial agreement and there are only two shipyards in the country, including the company who have signed MSRA. The agreement is expected to open up voyage repairs of US Navy Ships at MDL.

VRL Logistics | CMP Rs 704 | Shares slumped 1 percent after a large deal took place on the bourses. About 35 lakh shares of the company or 4 percent equity worth Rs 239.5 crore changed hands at Rs 684.2 per share. While Q1 of FY24 was muted, volumes are likely to improve in the coming quarters, analysts believe. VRL expects 15 percent volume growth in FY24 with a margin in the range of 16-17 percent. The stock pared losses as it also tumbled about 4 percent in today’s session.

PB Fintech | CMP Rs 800 | Shares of the parent company of Policy Bazaar traded over 3 percent after a report said the company was looking to enter the insurance manufacturing market, moving up the value chain from being an insurance aggregator. PB Fintech reportedly has had informal conversations with the Insurance Regulatory and Development Authority of India (IRDAI) on understanding the reinsurance market and its business foray, the report said.

Natco Pharma | CMP Rs 881 | Shares slumped over 3 percent after it was named as a defendant in an antitrust lawsuit in the United States. The lawsuit was filed against the company by Louisiana Health Service and Indemnity Company and HMO Louisiana regarding pomalidomide, a drug used in treating cancer. However, the company has not disclosed any further details. “Natco believes this matter is without merit,” the company said in an exchange filing dated September 8.

Havells India | CMP Rs 1,450 | Shares traded nearly 6 percent higher after the electrical goods maker saw nearly 29 lakh shares exchange hands against a monthly average of 7 lakh shares at the exchanges. In Q1FY24, the company reported a 13.90 percent year-on-year (YoY) increase in its revenue from operations at Rs 4,834 crore.

Tata Power | CMP Rs 268 | Shares traded 2 percent higher after it saw 0.2 percent equity change hands in a large trade worth Rs 155 crore on September 8, Bloomberg data showed. Nearly 52.5 lakh shares of Tata Power were sold in a block deal at a price of Rs 270 per share on the NSE. It was not immediately clear who the buyers or sellers were in the deal.

Bajaj Finserv | CMP Rs 1,541 | Shares traded nearly 2 percent higher a day after subsidiary Bajaj Allianz General Insurance Company posted strong numbers for August. Bajaj Allianz General Insurance Company’s gross direct premium underwritten for August was at Rs 1,677.87 crore and the premium in the current financial year up to August at Rs 9,228.81 crore, the company said in a filing with BSE on September 7. Bajaj Allianz Life Insurance Company’s total premium for August stood at Rs 926.41 crore and its premium for FY24 up to August stood at Rs 3,828.06 crore.

Tejas Network | CMP Rs 894 | Shares traded 0.1 percent higher after the company received a mobilisation advance of Rs 750 crore from Tata Consultancy Services. The amount received is in connection to the deal towards supplying radio access network equipment for BSNL’s pan-India 4G/5G network. The stock price pared gains as it was trading nearly 3 percent higher.