Gainers and Losers: 10 stocks that moved the most on March 11

On March 11, the Sensex was down 616.75 points or 0.83 percent at 73,502.64, while the Nifty was down 160.80 points or 0.71 percent at 22,332.70. About 898 shares advanced, 2,915 shares declined, and 113 shares unchanged.

Gensol Engineering | CMP Rs 935 | Shares of Gensol Engineering fell 7.67 percent despite the company winning an order for a 70 MW/140 MWh out of 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project, which is expected to contribute Rs 450 crore revenue to the company.

NLC India | CMP Rs 232 | NLC India stock rallied 6.06 percent as the company opened its offer-for-sale (OFS) to retail investors. The government is planning to sell a 5 percent stake or 6.93 crore equity shares through the OFS route with an option to sell an additional stake of up to 2 percent in case of over subscription. The floor price for the issue is set at Rs 212 per share.

Cipla | CMP Rs 1,505 | Shares of Cipla gained 2.5 percent intraday and hit a fresh all-time high. Nuvama Institutional Equities raised the target price on the stock from Rs 1600 to Rs 1750 given its steady domestic franchise and robust US pipeline. Nuvama said Cipla is looking to transition from a pure-play pharma company to an integrated health player. The stock closed 1.47 percent up from the previous day’s close.

Torrent Power | CMP Rs 1,162 | Torrent Power stock rallied 12 percent intraday and hit an all-time high after the company won a 306 megawatt (MW) solar project in Maharashtra for Rs 1,540 crore. However, the stock lost some of its gains and closed at 1.52 percent in the green.

Macrotech Developers | CMP Rs 1,179 | Shares of Macrotech Developers zoomed 4 percent intraday and hit an all-time high after the company raised Rs 3,300 crore through qualified institutional placement (QIP). Rajiv Jain’s GQG Partners, Invesco Developing Markets Fund and Stitching Depositary APG Emerging Markets Equity Pool participated in the QIP. The stock lost some gains and closed at 0.54 percent in the green.

Alembic Pharma | CMP Rs 979.4 | Alembic Pharma stock declined 1.99 percent after the US Food and Drug Administration (US FDA) issued a Form 483 with four observations for the drugmaker’s Gujarat plant. The four observations issued are procedural in nature. The US drug regulator inspected the oncology formulations (injectable and oral solid) unit at Panelav from February 28 to March 8.

RVNL | CMP Rs 245.1 | Shares of RVNL gained 3 percent after the company received orders worth Rs 1,826.14 crore. The company received orders from Himachal Pradesh State Electricity Board, Madhya Pradesh Metro Rail Corporation etc.

Indigo | CMP Rs 3,215.1 | Interglobe Aviation stock rose 3.52 percent after after 2.6 crore shares, representing a 6.7 percent stake, changed hands in a block deal. The deal was valued at Rs 7,823 crore. Moneycontrol earlier reported co-founder Rakesh Gangwal was looking to sell a 3.3 percent stake in the company to raise around Rs 3,723 crore.

GAIL India | CMP Rs 183.5 | Shares of GAIL India fell 2.68 percent after the company along with Oil and Natural Gas Corporation (ONGC) and Shell Energy India (SEI) signed a tripartite Memorandum of Understanding on March 7 to explore opportunities for import of ethane and other hydrocarbons.

Coal India | CMP Rs 452.5 | Coal India stock fell 1.33 percent even after the company signed an agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) for exploring opportunities for securing power to meet the growing demand in Rajasthan.