Gainers and Losers: 10 stocks that moved the most on April 16

The benchmark indices ended lower for a third straight session on April 16 as rising bond yields and Israel’s threat of retaliation against Iran worried participants. The Sensex closed 456.10 points, or 0.62 percent, lower at 72,943.68, and the Nifty was down 124.60 points, or 0.56 percent, at 22,147.90. The market breadth favoured gainers — around 2,218 shares advanced, 1,464 declined and 105 were unchanged.

Bharti Hexacom | CMP Rs 913.45 | Shares of Bharti Hexacom surged 13 percent after brokerage Jefferies initiated coverage on the stock with a ‘buy’ call and gave a target price of Rs 1080, a 34 percent upside from the previous close. According to Jefferies, Bharti Hexacom represents a strong investment opportunity in the Indian telecom sector.

VST Industries | CMP Rs 3,719 | The VST Industries stock gained after veteran investor Radhakishan Damani acquired an additional 1.51 percent stake in the company, raising his holding in the company to 34.4 percent.

HDFC Bank | CMP Rs 1,512.55 | Shares of HDFC Bank advanced over a percent after Jefferies retained “buy” call on the scrip with a target price of Rs 1,800, an upside of 20 percent from current levels. Margin improvement will be the key to increase the RoA and re-rating valuations, it said.

Zaggle Prepaid Ocean Services | CMP Rs 285 | The Zaggle Prepaid Ocean Services stock rose over a percent after Equirus Services initiated a ‘buy’ call and raised the target price by 43 percent to Rs 400 a share from its current market price.

LTI Mindtree | CMP Rs 4,668.50 | Shares of LTI Mindtree fell 3 percent with high volumes in the trading session. Fourteen lakh shares changed hands compared to the monthly average of five lakh. The stock also fell after Pankaj Chugh and Gregory Dietrich resigned as executive vice-president, global sales, of the company, with effect from April 15.

Gujarat Gas | CMP Rs 553.85 | The Gujarat Gas stock fell 3 percent even after the company signed a non-binding memorandum of understanding with Indian Oil Corporation to broaden the scope and accessibility of energy solutions for consumers.

IDFC First Bank | CMP Rs 83.10 | Shares of IDFC First Bank rose 0.42 percent after Jefferies maintained a ‘buy’ call on the counter, citing multiple levers from its credit cards business, and assigned a target price of Rs 100 a share, an upside of 22 percent from the current levels.

Dalmia Bharat | CMP Rs 1,978.90 | The Dalmia Bharat stock surged 2 percent after Nomura maintained a ‘buy’ call and raised the target price to Rs 2,900, implying a 48 percent upside from the current level. Early April, National Asset Reconstruction Company Ltd (NARCL) submitted a binding bid to acquire Jaiprakash Associates. The brokerage sees the bid positively and expects the deal to close in the second half of FY25.

Berger Paints | CMP Rs 531.50 | Shares of Berger Paint closed 2.65 percent down with higher than average trading volumes. As many as 9 lakh shares changed hands compared to the monthly average of 6 lakh shares.

Infosys | CMP Rs 1,415.20 | The Infosys stock fell over 3 percent amid strong volumes, extending the down turn for a third straight session. As many as 2 crore shares changed hands compared to the monthly average of 91 lakh.