Gainers and Losers: 10 stocks that moved the most on January 5

After a rocky start, the market ended the first week of the 2024 on a positive note. The Sensex closed 178.58 points or 0.25 percent, higher at 72,026.15 on January 5, and the Nifty was up 52.20 points, or 0.24 percent, at 21,710.80. About 2,108 shares advanced, 1,434 declined and 87 remained unchanged.

Suzlon Energy| CMP Rs 40.6 | The Suzlon Energy stock gained 4.91 percent after the company won a order to develop a 225-MW wind power project from Everrenew Energy. It would install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW across sites in Tamil Nadu.

Shree Cement | CMP Rs 26,970 | The cement stock ended 4.89 percent down after income tax department slapped a Rs 4,000-crore tax demand after it surveyed five locations of the company in June. The survey report showed the company wrongfully claimed Rs 8,500 crore from April 2014 to March 2023.

KPI Green Energy | CMP Rs 1,425 | The stock gained 1.53 percent after the company’s subsidiary, KPIG Energia, bagged a 3-megawatt solar power project contract from Jayco Synthetics.

Kalyan Jewellers | CMP Rs 359 | The share went down 1.66 percent even after reporting 40 percent rise in revenue from its Indian operations.

DLF | CMP Rs 754.1 | The stock ended nearly a percent lower, snapping a two-day winning streak. The real estate company stock ended lower despite Morgan Stanley “overweight” rating and a target price of Rs 770.

Jupiter Wagons | CMP Rs 341.4 | Shares of Jupiter Wagons gained 3.41 percent after the company won a Rs 473-crore contract from the defence ministry for 697 boggie open military wagons.

HAL | CMP Rs 3000 | Shares of the Tejas fighter jet manufacturer went up 3.3 percent after foreign brokerage UBS initiated coverage on the stock with a “buy” call and a target price of Rs 3600, a 20 percent upside from the current levels. UBS expects HAL’s Rs 80,000 crore order book in FY23 to trible to Rs 2.4 lakh crore in FY26 aided by increased defence expenditure.

Sobha | CMP Rs 1,269 | Shares of Sobha fell 2.03 percent as investors booked profit after the company reported its highest-ever quarterly sales in the October-December period.

TCS | CMP Rs 3,738.6 | Shares of TCS gained 1.96 percent along with other IT stocks with market participants optimistic  about the end of interest-rate hike cycle despite near-term concerns over the December quarter results.

Gujarat Fluorochemicals | CMP Rs 3,625 | The stock tumbled 5.22 percent, extending its losing streak to a second session. Emkay Global Financial has downgraded the stock, expecting FY24 to remain muted due to volume and pricing pressure.