Gainers & Losers: 10 stocks that moved the most on March 12

The Indian equity benchmarks closed in green on March 12, the Sensex was up 0.22 percent at 73,667.96, and the Nifty was up 0.01 percent at 22,335.70. About 551 shares advanced, 2,845 shares declined and 49 shares remained unchanged.

SpiceJet Ltd | CMP Rs 55.19 | Shares of SpiceJet crashed 9 percent on March 12 after reports suggested that the Chief Operating Officer (COO) Arun Kashyap and Chief Commercial Officer Shilpa Bhatia have tendered their resignation. Commenting on this development, the management said that this was a part of SpiceJet’s strategic restructuring and the company continues to see significant growth in revenue and load factor.

Aditya Birla Capital Ltd | CMP Rs 183.70 | Shares of Aditya Birla Capital gained over 2 percent on March 12, a day after the board of directors of Aditya Birla Capital Limited approved the merger of Aditya Birla Finance Ltd with itself on March 11. The merger was announced post-market hours. Post amalgamation, Aditya Birla Capital will get converted from a holding company to an operating NBFC, the company said, creating a unified large entity with greater financial strength and flexibility enabling direct access to capital.

Jupiter Wagons Ltd | CMP Rs 340.55 | The shares of Jupiter Wagons Limited crashed 6.18 percent on March 12 despite receiving orders from the Railways Ministry. The stock had increased intraday, following the announcement that the Railway Ministry had placed an order for the manufacturing and supply of 2,237 BOSM wagons. These wagons are designed to efficiently transport bulk goods, such as coal and ore, within the Indian railway network.

Aurobindo Pharma Ltd | CMP Rs 1,044.70 | Aurobindo Pharma shares fell nearly 2 percent on March 12 after the company’s subsidiary received WHO GMP approval. The Prequalification Unit Inspection Team of the World Health Organization inspected Unit IV, a formulation manufacturing facility of a wholly-owned subsidiary, APL Healthcare, situated at Menakuru Village, Naidupeta Mandal, Tirupati District, Andhra Pradesh, between September 11 and September 15, 2023.

KFin Technologies Ltd | CMP Rs 593.05 | Shares of KFin Technologies slumped 5.57 percent after around 36 lakh shares, making up a 2.1 percent stake changed hands in a Rs 211-crore block deal. While Moneycontrol could not immediately identify the parties involved in the transaction, CNBC Awaaz had reported on March 11 that Kotak Mahindra was looking to unload a 2 percent stake in KFin Tech. The company’s shareholding data at the end of the December quarter showed that Kotak Mahindra Bank owned a 9.8 percent stake in KFin Technologies, which has been now reduced to 7.7 percent.

Bata India Ltd | CMP Rs 1,427. 05| Shares of Bata fell 1.38 percent on March 12 after research firm Geojit downgraded the stock’s rating from buy to ‘accumulate’. The firm set a revised target price for the stock at Rs 1,670, owing to Bata’s enhanced investments in technology and marketing, as well as tight control on overhead costs. ‘We believe, BIL has the capability to revive its revenue growth trajectory given its strong brand recall & distribution reach and strong balance sheet. BIL currently trades at 49x 1Yr Fwd P/E. Considering the continued weakness in demand, we downgrade our rating to Accumulate (from BUY) with a revised target price of Rs. 1,670, valuing BIL at 47x on FY26E EPS’ stated the report.

Indiamart Intermesh Ltd | CMP Rs 2,614.65 | Shares of IndiaMART InterMESH surged nearly 3 percent after global brokerage firm Jefferies shared a ‘buy’ call with a target price of Rs 3,400 apiece, implying an upside of over 27 percent from the current level. Analysts at Jefferies said that investors had raised concerns about the company’s slow subscriber additions, SaaS investments, and execution challenges. However, they have now agreed with the company’s structural growth potential and moats.

GAIL India Ltd | CMP Rs 179.90 | Shares of GAIL fell 1.82 percent as research firm Emkay Global Financial announced a ‘reduce’ rating for the stock with a target price of Rs 145 per share. The firm highlighted the adverse commodity price- margins, regulations and outages as key risks posed for the company, however, it plans to soon review its estimates, target price and recommendations for the stock.

DLF Ltd | CMP Rs 864.40 | Shares of DLF tumbled 5.14 percent on March 12 after brokerage firm Motilal Oswal declared a ‘neutral’ rating for the stock with a revised target price of Rs 850. “We incorporate the higher realization of DLF 5 land bank and tweak our monetization assumption to factor in its aggressive launch pipeline as indicated by the company”, stated the company in its report.

PRAVEG Ltd | CMP Rs 898.40 | Shares of Praveg Industries fell 2.52 percent on March 12 as Promoter Patel Ashaben Vishnukumar had offloaded a 2.85 percent stake in the firm. Vishnukumar, who is part of the promoter group, sold 7 lakh equity shares in Praveg at an average price of Rs 850.51 a share, exchange data shows. During intraday, the stock increased by 4 percent, a day after Goldman Sachs India Equity Portfolio had picked up a 2.18 percent stake in the company.