Gainers and Losers: 10 stocks that moved the most on March 15

The Indian market closed in red on March 15, with the Sensex down 0.63 percent at 72,643.43 and the Nifty 0.56 percent at 22,023.35. About 1,724 shares advanced, 1,939 declined and 113 remained unchanged.

One97 Communications | CMP Rs. 370.70|: The stocks of Paytm’s parent company was locked in a 5 percent upper circuit at Rs 370.30 after the National Payments Corporation of India (NPCI) allowed it to function as a third-party application provider (TPAP) on Unified Payments Interface (UPI). Morgan Stanley analysts issued an “equal-weight” call on the stock, setting a target price of Rs 555, suggesting a 57 percent upside from the current level.

Zomato | CMP Rs. 159.90 |: Kotak Institutional Equities is bullish on Zomato, as its quick-commerce arm Blinkit expands into new categories. The brokerage expects higher average order value, improved unit economics, and customer loyalty. Kotak projects a 19 percent CAGR for Zomato’s food delivery Gross Order Value (GOV) from FY23 to FY26. With a target price of Rs 190, Kotak suggests a potential upside of around 24 percent from the current market price. 

RailTel | CMP Rs. 352.85 |: The share surged by up to 7 percent following the announcement of a Rs 113.46 crore work order from Odisha Computer Application Centre (OCAC). The order involves setting up IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0. Over the past year, RailTel has risen over 227 percent against Nifty’s 30 percent.

Shakti Pumps (India) | CMP Rs. 1279.65|: The share hit a 5 percent upper circuit after securing a Rs 93 crore order. The company received the Letter of Award from the Maharashtra Energy Department Agency (MEDA) for 3,500 solar photovoltaic water pumping systems (SPWPS) across the state. 

KPI Green Energy | CMP Rs. 1454.00 |: The stock surged 3 percent after securing a wind-solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL). The company stated in an exchange filing that it emerged as the successful winner of GUVNL’s tender for developing a 500 MW hybrid renewable power project, with a greenshoe option for an additional 500 MW.

Biocon | CMP Rs. 251.60|: Biocon’s shares dropped more than 4 percent following the acquisition of subsidiary Biocon Biologics’ India-branded formulation business by Eris Lifesciences for Rs 1,242 crore. The transaction, valued 3.4 times revenue and 18 times EBITDA, involves over 430 employees moving to Eris. The acquired business includes portfolios in insulin, oncology, and critical care. 

Ashok Leyland| CMP Rs. 162.25|: Ashok Leyland Limited’s shares fell 2 percent as investors sought to secure profits following a 3 percent rally the previous day. The company disclosed that its subsidiary, Hinduja Tech, signed a definitive agreement with Creador, which will acquire a 19.6 percent stake in the company for $50 million. This investment values Hinduja Tech at a post-money equity of $255 million. 

Crompton Greaves Consumer Electricals | CMP Rs. 275.20 |: The company has secured significant orders from Maharashtra, Haryana, and Rajasthan. These orders involve supplying, installing, testing, and commissioning solar photovoltaic water pumping systems (SWPS) under the PM-KUSUM scheme. In Haryana, the company received an order for 193 SWPS valued at Rs 9.16 crore. Maharashtra awarded an order for 2000 SWPS, amounting to Rs 50.15 lakh crore, while Rajasthan ordered 1,000 SWPS for Rs 20 crore. All projects are expected to be completed within 120 days.

Tata Investment Corp Ltd | CMP Rs. 7549.70 | The share plummeted 5 percent to hit the lower circuit after 35 crore shares changed hands in a block deal, CNBC reported. The details of the buyers and sellers were not known. This marks the fifth consecutive trading session where the stock hit the lower circuit, declining about 22.6 percent during the period. 

L&T Technology Services | CMP Rs. 5408.40 |: The stock surged over 2 percent following an Rs 800-crore order win. The company will deliver advanced cyber security solutions to enhance public safety in Maharashtra. Teaming up with KPMG Assurance and Consulting Services LLP as forensics partner, they will create an advanced cybersecurity system and establish a cybercrime prevention center, utilizing artificial intelligence and digital forensic tools to combat cyber threats.