Gainers and Losers: 10 stocks that moved the most on March 1

It was  a day of another highs for the benchmark indices on March 1, a day after India’s October-December growth came in at 8.4 percent, the fastest in six quarters and way above estimates. The Sensex ended 1,245.05 points, or 1.72 percent, higher at 73,745.35, it highest close. Same for the Nifty, which closed 356 points, or 1.62 percent, at 22,338.80. About 2,388 shares advanced, 1,300 declined and 111 were unchanged.

Happy Forgings | CMP Rs 980 | Shares of Happy Forgings zoomed 5.58 percent after Motilal Oswal initiated coverage with a “buy” call. The brokerage is bullish on the diversified forging and machining services company as a result of its increased capacities, product diversification, client acquisition, and emerging opportunities in industrials and exports.

ICICI Bank | CMP Rs 1,085 | the ICICI Bank stock surged 3.12 percent after the private lender increased its stake in ICICI Lombard General Insurance via an open market transaction, the second such purchase in a week. The transaction comes within days of the private sector lender purchasing a 1.6 percent stake in the insurer for Rs 1,356 crore.

Tata Investment Corporaton | CMP Rs 7,644.85 | Shares of Tata Investment Corporation rallied 5 percent a day after the Union Cabinet approved three semiconductor plant proposals, two of which would be set up by Tata group. Two of the three plants will be built in Gujarat and one in Assam at an estimated cost of Rs 1.26 lakh crore.

Suven Pharma | CMP Rs 708 | The Suven Pharma stock gained 12.49 percent a day after the firm announced a scheme of amalgamation for a merger with Cohance Lifesciences. The transaction is expected to conclude over next the 12-15 months, subject to shareholder and regulatory approvals, the company said in a release.

CMS Info Systems | CMP Rs 399.5 | Shares of CMS Info Systems gained 4 percent a day after the cash management company said that CEO Rajiv Kaul had increased his stake in the company. In a post market hours release, CMS Info Systems said Kaul raised his stake in the firm to 6.2 percent from 2.6 percent by exercising his employee stock options (ESOPs).

CG Power | CMP Rs 463 | CG Power and Industrial Solutions stock rallied 4.46 percent after the company signed a joint venture agreement with Renesas Microelectronics and Stars Microelectronics to build and operate an outsourced semiconductor assembly and test facility.

Lemon Tree Hotels | CMP Rs 141.5 | Shares of Lemon Tree Hotels gained 1.51 percent after the company opened its seventh Lemon Tree Resort in Rajasthan’s Kumbhalgarh.

Aurobindo Pharma | CMP Rs 1,026 | The Aurobindo Pharma stock traded down after the company received seven observations from the United States Food and Drug Administration (USFDA). The USFDA inspected the injectable facility of Eugia SEZ Pvt Ltd, a 100 percent step-down subsidiary of Aurobindo Pharma, in Telangana’s Mahaboobnagar district from February 19 to 29.

Dr Reddy’s Laboratories | CMP Rs 6,190 | Shares of Dr Reddy’s Labs fell 3.65 percent after the company was named a defendant in an antitrust motion in the US District Court for New Jersey.

Paytm | CMP Rs 423.45 | The Paytm stock gained 5 percent and hit upper circuit after the fintech’s board gave its approval for the discontinuation of several inter-company agreements with its associate entity, Paytm Payments Bank Limited (PPBL).