Gainers and Losers: 10 stocks that moved the most on April 2

The benchmark indices ended a tad lower on April 2, with the Sensex closing 110.64 points, or 0.15 percent, down at 73,903.91, and the Nifty 8.7 points, or 0.04 percent, at 22,453.30. About 2,652 shares advanced, 1,012 declined and 117 were unchanged.

Godrej Properties | CMP Rs 2,488.05 | Godrej Properties, Prestige Estates and other realty stocks gained after Morgan Stanley raised the target price of some of these scrips. Morgan Stanley upgraded Godrej Properties to “overweight” from “equal weight” and hiked the target price to Rs 2,500 from Rs 2,050 on pre-sales momentum.

CAMS | CMP Rs 3,189.95 | Shares of CAMS surged more than 6 percent after it was reported that the company will manage the issuance of all digital insurance policies. In an exchange filing on April 2, CAMS said the Insurance Regulatory and Development Authority of India (IRDAI) mandated the issuance of insurance policies in electronic form from April 1. CAMS Insurance Repository Services Limited, which is an IRDAI-registered insurance repository, will be facilitating the issuance of policies in the electronic mode.

Choice International | CMP Rs 289 | The Choice International stock gained 3 percent after the company’s subsidiary secured a Rs 520-crore project. Choice Consultancy Services Pvt Ltd announced bagging a solar plant project from Jodhpur Vidyut Vitran Nigam in a joint venture with Solar91 Cleantech Pvt Ltd.

Aditya Birla Capital | CMP Rs 200.95 | Shares of Aditya Birla Capital rallied 10.5 percent a day after brokerage Macquarie initiated coverage on the NBFC with an “outperform” call and a target price of Rs 230. According to the brokerage, ABCL is poised for show strong growth in loans and earnings driven by both its lending (NBFC and HFC) and savings (life insurance) businesses.

Voltas | CMP Rs 1,191 | Voltas and Havells gained a day after the Met office issued warnings of a heatwave as a result of extreme weather conditions. IMD Director General Mrutyunjay Mohapatra said temperature is expected to be above normal in most parts of the country during April to June. “Ten-20 days of heatwaves are expected in different parts as against normal four-right days in April-June,” he said.

Paytm | CMP Rs 415.8 | Shares of One 97 Communications, the parent company of Paytm, rose more than 2 percent after Moneycontrol reported the fintech had resumed lending with its existing partners and was in talks to onboard Muthoot Finance as new lending partners.

IREDA | CMP Rs 149.75 | Shares of IREDA jumped 5 percent to hit the upper circuit on April 2 following healthy quarterly business updates. IREDA recorded the highest number of loans sanctioned, coming in at Rs 37,354 crore for the financial year ended March 31, 2024. This was up 14.63 percent from Rs 32,587 crore last year.

Uflex | CMP Rs 453.05 | The Uflex stock soared 7 percent after the company commissioned a CPP film production line at its Russian step-down subsidiary. Flex Films Rus LLC, Russia, a step-down subsidiary of the company, has commissioned CPP film production line with its installed capacity of 18,000 MT per year on April 1.

Bharat Dynamics | CMP Rs 1,748 | Shares of Bharat Dynamics declined a percent a day after the ammunitions and missile systems manufacturer reported a 5.6 percent decline in its turnover. According to the defence manufacturer, the decline is due to current geopolitical situation prevailing in Europe and Middle East which has affected the supply chain of the company. Additionally, the company has reported a Rs 19,468-crore order book for FY2024.

UNO Minda | CMP Rs 689 | Shares of UNO Minda fell 0.62 percent after Honda Motorcycle & Scooter India (HMSI) made a global recall of bikes supplied by the company’s Haryana plant. HMSI recalled its bikes after spotting leakage of oil from the engine, caused due to dislodgement of sealing plug cone out of the engine cover (recalled part). The recalled part was supplied by the company’s plant at Bawal, Haryana.