Gainers and Losers: 10 stocks that moved the most on March 14

The Indian market bounced back from the previous day’s pounding to close almost 0.5 percent up on March 14. The Sensex ended 335 points, or 0.46 percent, higher at 73,097, and the Nifty was up 149 points, or 0.7 percent, at 22,151. About 2,729 shares advanced, 1,146 declined and 83 remained unchanged.

SpiceJet Ltd| CMP Rs54.53 | Spicejet surged 7.4 percent in early trading as it finalised lease agreements for 10 aircraft to boost capacity for the upcoming summer schedule, aimed at meeting heightened passenger demand. This move reinforces the airline’s commitment to seamless connectivity and addressing increased travel needs during peak seasons, the company said. 

SJVN Ltd| CMP Rs 118.55| Shares of SJVN jumped around 18 percent after SJVN Green Energy Limited received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 500 MW solar project. The project, estimated at Rs 2,700 crore, will be developed at GIPCL Solar Park in Khavda. SGEL previously won the project through tariff-based competitive bidding and will operate it on build own and operate  basis.

Ashoka Buildcon | CMP Rs163 | Ashoka Buildcon surged 12 percent following its decision to acquire a 50 percent stake in GVR Ashoka Chennai ORR (CORR). The company entered into a share purchase agreement with GVR Infra Projects, acquiring 9.45 crore shares, representing half of CORR’s share capital, for Rs 185 crore.

One97 Communications | CMP Rs 353.25| Paytm parent One97 Communications gained 0.4 percent ahead of the RBI’s March 15 deadline for Paytm Payments Bank services to wind up several of its offerings. This follows a partnership announcement with State Bank of India for consumer UPI payments. Paytm, leveraging Paytm Payments Bank Limited (PPBL) for UPI services, aims to transition into a third-party application provider (TPAP) following RBI’s actions on PPBL on January 31, aligning with competitors PhonePe and Google Pay.

Coforge Ltd | CMP Rs 6100 | Coforge shares fell 1.2 percent as the IT services company disclosed plans for a board meeting on March 16 to discuss fundraising options. The proposed funds may be raised through various methods, including equity share issuance, private placement, qualified institutions placement, preferential issue, or other permissible modes as per applicable laws.

Shriram Pistons | CMP Rs 1647 | Emkay Global started coverage on Shriram Pistons with a ‘buy’ rating, driving the stock up 14 percent. The brokerage set a target price of Rs 2,450, indicating a 70 percent upside. Shriram Pistons’ strong market position in core products may justify higher PE multiples, it said.

Adani Green Energy | CMP Rs 1,893.30 | Adani Green Energy shares surged nearly 10 percent following its subsidiary’s agreement with Solar Energy Corporation of India (SECI) for 534-MW projects. Adani Renewable Energy Fifty Nine Limited entered into a power purchase agreements (PPAs) with SECI for the supply of solar power. 

Kalpataru Projects International |CMP Rs 1024.20 | Kalpataru Project’s shares surged 3.5 percent after the company secured orders worth Rs 2,445 crore. The orders, received by its transmission and distribution (T&D) and building and factories (B&F) verticals, include Rs 2,366 crore for T&D projects in India and overseas, and Rs 79 crore for B&F projects.