Gainers and Losers: 10 stocks that moved the most on March 6

The market staged a remarkable recovery to hit a new high on March 6, aided by last-hour buying in banking and IT names. The Nifty and Sensex gained one percent from the day’s low to hit new highs. The Sensex ended 408.86 points or 0.55 percent higher to close at 74,085.99, and the Nifty gained 117.70 points or 0.53 percent to end at 22,474. About 848 shares advanced, 2,870 declined and 73 remained unchanged.

Tata Chemicals | CMP Rs 1,182.15 | Shares of Tata Chemicals rallied 11.39 percent with strong volumes. Two crore shares traded against the monthly daily average of 15 lakh.

KPI Green Energy | CMP Rs 1,698 | KPI Green Energy stock gained 2.87 percent after the company announced securing four solar projects aggregating to 9.40 megawatts. The company will undertake 5 MW capacity, while the remaining 4.40 MW will be undertaken by its wholly-owned subsidiary KPIG Energia.

Sun Pharmaceuticals | CMP Rs 1,605 | Shares of Sun Pharmaceuticals rose 1.96 percent on reports that the US Food and Drugs Administration gave the company’s Ankleshwar API (Active Pharmaceutical Ingredients) unit the all-clear to manufacture and export.

Marico | CMP Rs 505.65 | Shares of Marico closed 2.48 percent lower as the stock traded ex-dividend. Marico had announced an interim dividend of Rs 6.5 a share for FY24 in February and fixed March 6 as the record date for the dividend, which will be paid on or before March 28.

GR Infra | CMP Rs 1,215 | GR Infra stock plunged 4 percent intraday as some of the promoters plan to divest up to 5 percent equity in the company to meet minimum public shareholding norms. According to the company’s shareholding data at the end the December quarter, the promoters held a 79.74 percent stake in the company. The SEBI allows promoters of any listed company to hold a maximum of 75 percent stake. The stock pared some of the losses to close 0.43 percent lower.

IIFL Finance | CMP Rs 382.2 | Shares of IIFL Finance plunged 20 percent to hit the lower circuit for second straight session after the RBI banned the company from issuing gold loans. Jefferies downgraded the stock to ‘hold’ and slashed the target price from Rs 765 to Rs 435.

JM Financial | CMP Rs 85.5 | The JM Financial stock plunged 10.42 percent a day after RBI barred the company from giving loans against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares, with immediate effect.

JSW Energy | CMP Rs 514 | Shares of JSW Energy gained 0.88 percent after the company’s step-down subsidiary signed a battery energy storage purchase agreement (BESPA) with Solar Energy Corporation of India.

Torrent Pharmaceuticals | CMP Rs 2,694.95 | The Torrent Pharmaceuticals stock rose 1.24 percent after a successful inspection by the US FDA. The USFDA has issued an establishment inspection report (EIR) for company’s Gujarat manufacturing facility and the inspection has now been successfully closed by the regulator.

Mahanagar Gas | CMP Rs 1,324.7 | Mahanagar Gas stock declined 15.38 percent after brokerage firm Citi downgraded the stock to “sell” from “buy” and cut its target price from Rs 1,480 to Rs 1,405. The brokerage downgraded the stock as oil minister Hardeep Puri said that the full benefits of natural gas sector reforms haven’t reached end customers.