Gainers & Losers: 10 stocks that moved the most on July 10

The Indian equity benchmarks closed in the green on July 10 after a volatile session. The Sensex ended 0.10 percent higher at 65,344.17, and the Nifty was up 0.12 percent at 19,355.90. About 1,454 shares advanced, 2,123 declined and 144 remained unchanged.

Reliance Industries Ltd. | CMP Rs 2735.05 | Reliance Industries gained nearly 4 percent on July 10 after the Mukesh Ambani-led oil-to-telecom conglomerate fixed July 20 as the record date for determining the equity shareholders entitled to receive shares of Reliance Strategic Investments Limited (RSIL). The stock also hit a 52-week high of Rs 2,756.

Titan Company Ltd. | CMP Rs 3045.55 | Titan shares lost over 3 percent after Morgan Stanley downgraded the stock, citing a slowdown in jewellery growth because of a traditional lean period likely through the next couple of months. The foreign brokerage firm said that growth would be slow in the July to September quarter as it period of “Adhik Mass” in the Hindu calendar, which is considered an inauspicious time for big purchases as well as weddings.

Spicejet Ltd. | CMP Rs 30.12 | SpiceJet shares surged 2 percent after the company announced its plan to raise fresh capital through an issue of equity shares and/or convertible securities on a preferential basis. The fundraise comes as the loss-making airline is caught in legal disputes with Kalanithi Maran, a huge debt and has to unground its fleet as well as induct new aircraft.

Easy Trip Planners Ltd. | CMP Rs 43.20 | Shares of EaseMyTrip jumped 5 percent after the company signed a General Sales Agreement (GSA) with SpiceJet. As per the exchange filing, under the GSA, EaseMyTrip will be responsible for selling and promoting the products and services offered by SpiceJet in India.

Hindustan Zinc Ltd. | CMP Rs 327.85 | Hindustan Zinc shares succumbed to selling pressure and fell nearly 4 percent as investors took some money off the table following a 12 percent surge in the stock over the past seven sessions. For the year ending March 2023, Hindustan Zinc declared an equity dividend of 3,775 percent, amounting to Rs 75.5 per share. At the current share price, this results in a dividend yield of around 23 percent.

Olectra Greentech Ltd. | CMP Rs 1288.00 | Olectra Greentech shares continued gained 4.5 percent on July 10 after the company bagged an order worth Rs 10,000 crore in the past week, bigger than its market capitalisation. The stock also hit a new high of Rs 1408.70 during the day.

Balkrishna Industries Ltd. | CMP Rs 2284.60 | Shares of Balkrishna Industries (BIL) declined more than 4 percent after brokerage firms suggested that persistent near-term headwinds and channel de-stocking could potentially dent volume growth in the coming quarters.

Sula Vineyards Ltd. | CMP Rs 463.25 | The shares of India’s only listed wine producer surged 4 percent on July 10, as the company’s update of strong growth in its June quarter business update triggered buying in the stock. The company has over 50 percent share of the domestic wine market.

Gati Ltd. | CMP Rs 132.65 | Gati share price gained 6 percent after the logistics company reported better business data for the month of June. Gati’s total volume, including surface and air express, in June 2023 came in at 102 kt, an increase of 14 percent from the year-ago period and 3 percent from the previous month.

Servotech Power Systems Ltd. | CMP Rs 150.40 | Shares of Servotech Power Systems Ltd declined 5 percent after the company announced fixing July 28 as the record date for the purpose of subdivision (split) of equity shares. In May, Servotech announced a split of its equity shares in a 1:2 ratio to enhance the liquidity of the company’s shares and to encourage wider participation in the stock market.