Gainers and Losers: 10 stocks that moved the most on March 28

Benchmark indices the Sensex and the Nifty logged solid gains on March 28, the final trading day of FY24, led by banking and IT counters.  At the close, the Sensex was up 655.04 points, or 0.90 percent, at 73,651.35, and the Nifty was up 203.20 points, or 0.92 percent, at 22,326.90. About 1,738 shares advanced, 1,961 declined and 100 remained unchanged.

VIP Industries | CMP Rs 525.85 | The stock soared 12.94 percent after the luggage maker shared its growth strategy, saying its key goal would be to achieve double-digit revenue growth from Q4FY24. It has an EBDITA ambition of 15 percent growth from H2FY25 onwards. Post the announcement, Prabhudas Lilladher upgraded the counter to “buy” from “hold”.

Tata Elxsi | CMP Rs 7,747.85 |Shares surged over a percent after the company tied with Germany-based Dräger to advance critical care innovation in India. As part of this collaboration, Dräger is expanding its research and development presence by establishing a new Offshore Development Center (ODC) at Tata Elxsi’s facility in Pune.

Bajaj Finance | CMP Rs 7,240 | Bajaj Finance gained 3 percent following a Moneycontrol report that subsidiary Bajaj Housing Finance was planning to go public, with a valuation $9-10 billion. Moneycontrol reported on March 27 that Bajaj Housing Finance has initiated preliminary talks with several investment banks about a potential initial public offering.

ICICI Securities|CMP Rs 729 | The stock slumped 1.6 percent after shareholders a day earlier approved a proposal to delist ICICI Securities Ltd, following which it will become a wholly-owned subsidiary of ICICI Bank. According to the filing, 83.8 percent of the institutional shareholders and 32 percent non-institutional shareholders voted in favour of the delisting.

Sona BLW Precision Forgings | CMP Rs 705.55 | The stock gained 3.6 percent after Bernstein said the automotive systems and components manufacturer was on the “right side of auto disruption”. The brokerage raised its target price on the company to Rs 780 from Rs 770 earlier, implying an upside of 14.5 percent. The brokerage maintained its ‘outperform’ rating.

Mahindra Lifespace Developers | CMP Rs 587.5 | The stock surged 4 percent after the company purchased land with a revenue potential of Rs 225 crore. The locality offers good connectivity to tech parks and commercial offices, along with a robust social infrastructure including educational institutes, healthcare facilities, and retail options, it said.

Titan Company | CMP Rs 3,794 | Shares of the Nifty50 major gained 0.8 percent after Motilal Oswal analysts rated it as a ‘buy’. The analysts predicted a vigorous growth outlook for the company and set a target price of Rs 4,300, which implies a 14% increase from the current level.

Chalet Hotels | CMP Rs 895 | Shares of the hospitality major jumped 2.7 percent after the company’s board of directors approved a proposal to raise funds through Qualified Institutional Placement (QIP). The floor price for the QIP has been fixed at Rs 780.76 per equity share but the company can offer a discount of up to 5 percent.

Indian Shelter Finance Corporation | CMP Rs 624.15 | Shares gained 6.5 percent after Kotak Institutional Equities initiated coverage with a ‘buy’ tag, citing the company’s high-growth outlook in the affordable housing finance sector.

GOCL | CMP Rs 453.35 | The stock zoomed 20 percent and was locked in the upper circuit after the Hinduja Group-led company entered into an agreement with Squarespace Builders to sell a piece of land worth Rs 3,402 crore. GOCL Corp will monetise approximately 264.50 acres of land at Kukatpally, Hyderabad, where 32 acres are under joint development agreement (JDA).