Gainers and Losers: 10 stocks that moved the most on April 10

The benchmark indices closed at a new high on April 10, powered by gains in heavyweights and banking names. The Sensex closed 354.45 points, or 0.47 percent, higher at 75,038.15, and the Nifty 111 points, or 0.49 percent, at 22,753.80. About 1,892 shares advanced, 1,782 declined and 111 remained unchanged.

IndiGo | CMP Rs 3,811.45 | Shares of Interglobe Aviation, which operates IndiGo, surged 4 percent, extending gains for the fourth session, and hit an all-time high. The surge made the company world’s third-largest airline in terms of market capitalisation. Brokerages are bullish on the company due to growth prospects of the Indian aviation industry, gains in international travel and favourable demand-supply dynamics.

Ramco Systems | CMP Rs 340.9 | The Ramco Systems stock rallied 19.99 percent and got locked in the upper circuit after the aviation software specialist signed a multi-million-dollar deal with Korea’s largest airline Korean Air for tech support at its new engine maintenance complex.

PB Fintech | CMP Rs 1,345 | Shares of PB Fintech advanced over 3 percent a day after the company incorporated PB Pay Private Limited, a subsidiary unit. The sharp rise in PB Fintech share price also comes after the insurance tech company announced a partnership with ICICI Lombard to provide insurance solutions to one crore customers.

Shyam Metalics | CMP Rs 629.9 | The Shyam Metalics stock gained over a percent after the company announced the setting up of a new stainless steel hot rolled coils (HRC) facility at its Odisha plant. The hot rolled coils facility at the Sambalpur plant is a part of the expansion plan approved by the board of directors on July 27, the company said in a release.

Shivalaik Rasayan | CMP Rs 595.6 | Shares of Shivalik Rasayan jumped 5 percent despite the US FDA issuing seven observations for its Bharuch facility. The United States Food and Drug Administration (US FDA) inspected the API facility of Shivalik Rasayan from April 1 to April 9, the company said.

Lemon Tree Hotel | CMP Rs 140.65 | The Lemon Tree Hotel stock surged over 2 percent after the company announced its foray into Nepal with the opening of Lemon Tree Premier in Kathmandu.

MCX | CMP Rs 3,898 | Shares of MCX gained over 4 percent after Motilal Oswal bumped its rating to ‘buy’ with a target price of Rs 4,300, implying an upside of 15 percent from the previous session’s close. MCX is looking to grow volumes with new products such as steel bar, gold serial contracts, and power contracts. Around 90 percent of the current volumes in the options segment are from the crude oil and natural gas segments.

Reliance Infrastructure | CMP Rs 227.6 | Reliance Infrastrcuture stock plunged 20 percent and got locked in the lower circuit after the Supreme Court reversed its order upholding arbitral award payments from the Delhi Metro Rail Corporation (DMRC).

Sun Pharma Advanced | CMP Rs 429.7 | Shares of Sun Pharma Advanced fell 5 percent and got locked in a lower circuit after the Mumbai-based pharma company said it was abandoning on Vodobatinib for Parkinson’s.

Paytm | CMP Rs 399.5| The Paytm stock fell more than 1 percent after Surinder Chawla stepped down as the Paytm Payments Bank managing director and chief executive citing personal reasons and for exploring better career prospects.