Gainers and Losers: 10 stocks that moved the most on September 11

It was a milestone day for the Indian market, as the Nifty crossed 20,000 points for the first time, hitting an intraday high of 20,008.15, while the Sensex reclaimed the 67,000 mark. The Sensex closed 528.17 points or 0.79 percent higher at 67,127.08, and the Nifty gained 176.30 points or 0.89 percent at end at 19,996.30. About 2,043 shares advanced, 1,619 declined and 165 were unchanged.

Apollo Hospitals | CMP Rs 5,095 | The stock closed over 2 percent higher, buoyed by a robust growth outlook for the healthcare services provider. UBS has a “buy” rating on Apollo Hospitals with a target price of Rs 6,050 a share. “Data from the healthcare industry indicates that the occupancy trend is improving sequentially. We remain positive on Apollo’s core healthcare business and expect occupancy to improve to 65 percent in the second quarter versus 62 percent recorded in the April-June quarter,” the brokerage said.

Praj Industries | CMP Rs 592 | The stock soared over 14 percent on expectations of gains from the Global Biofuel Alliance (GBA) launched on September 9 on the sidelines of the G20 Summit. Praj Industries has 60-65 percent of the market share in developing ethanol plants. The main aim of GBA is to accelerate the transition to sustainable biofuels and reduce dependence on traditional fossil fuels. Biofuels are renewable energy fuels derived from biomass like crop stubble, plant waste and municipal solid waste.

Oil India | CMP Rs 281 | The stock closed 2 percent higher after reports said that the state-owned fuel producer was planning to invest Rs 16,500 crore to achieve its net zero carbon emission goals by 2040. “The company plans to invest about Rs 9,000 crore for 1,800 megawatts solar and onshore wind energy projects and Rs 3,000 crore for green hydrogen project. It will also invest Rs 1,000 crore on carbon capture, utilization and storage projects,” a Reuters report said.

JSW Energy | CMP Rs 431 | The stock gained over 9 percent on reports that private equity investors TPG, Tokyo Electric Power Company (Tepco) and Brookfield were in advanced talks to buy a stake in JSW Neo Energy. It was likely that a deal with two of these funds would be finalised in the coming weeks, the Economic Times reported. JSW Group aims to raise up to $500 million from this stake sale, which will likely be utilised for expanding its presence in the renewable energy space.

Cupid | CMP Rs 427 | The share ended 8 percent higher after the Universal-Halwasiya Group and Family, through Columbia Petro Chem Private Limited, and Aditya Halwasiya, a promoter of Universal Petro Chemicals Limited, geared up to acquire a significant stake in the company. The Universal-Halwasiya Group and Family have entered into a definitive agreement to buy 41.84 percent equity capital/voting rights from the promoter/promoter group of Cupid Limited, Omprakash Garg and Veena Garg, and the management control, subject to regulatory compliance and approval.

Adani Ports | CMP Rs 882 | The share soared 7 percent after Gautam Adani-led promoter group raised stakes in the group company to 65.23 percent from 63.06.  Gautam Adani-led promoter group also raised the stake in flagship Adani Enterprises, according to stock exchange filings.

IRFC | CMP Rs 84 | The stock was locked in a 10 percent upper circuit as the government’s infrastructure push and expansion of the rail network boost investor confidence and brightened the outlook for rail stocks. The company’s market cap touched Rs 1 lakh crore, making it the 10-most valuable public sector undertaking.

Adani Enterprises | CMP Rs 2,614 | Stock climbed 4 percent after Gautam Adani-led promoter group raised equity stakes in the group flagship to 71.93 percent from 69.87 percent, according to stock exchange filings.

PVR Inox | CMP Rs 1,797 | The stock was down 3 percent, despite being the largest multiplex operator in the country with the launch of a four-screen theatre at Smart City Mall at Dharwad, Karnataka. PVR INOX has 1,708 screens across 361 properties in 115 cities in India and Sri Lanka, according to a September 10 statement.

Coffee Day Enterprises | CMP Rs 45 | The share tanked 15 percent after IDBI Trusteeship Services filed a default application against Coffee Day before the National Company Law Tribunal. In a September 8 regulatory filing, Coffee Day Enterprises said that IDBI Trusteeship Services filed an application against Coffee Day under Section 7 of the Insolvency and Bankruptcy Code for alleged default of Rs 228.45 crore. In the filing, Coffee Day said that it is seeking appropriate legal advice and will take all appropriate steps to protect its interest in the said matter.