Gainers & Losers: 10 stocks that moved the most on July 11

The Indian equity benchmarks closed in the green on July 11, with the Sensex ending 0.42 percent higher at 65,617.84, and the Nifty was up 0.43 percent at 19,439.40. About 1,892 shares advanced, 1,496 declined and 117 remained unchanged.

Mazagon Dock Shipbuilders Ltd. | CMP Rs 1591.85 | Shares of Mazagon Dock Shipbuilders surged 10 percent on July 11 on expectations of new orders, which will help increase the company’s depleting order book. The stock also hit a new all time high of Rs 1,591.85 on the same day. India’s Ministry of Defence is said to have cleared the purchase of three additional Scorpene or Kalvari class submarines to be constructed at Mazagon Dock Shipbuilders; in collaboration with France’s Naval Group. The Rs 20,000-22,000 crore contract is expected to be signed during Prime Minister Modi’s upcoming visit to France on July 13-14.

Suzlon Energy Ltd. | CMP Rs 17.95 | Shares of Suzlon Energy rose 3.5 percent on July 11 after the renewable energy solutions provider announced an order win for the development of a 47.6 MW wind power project for The KP Group. The project is located at Vagra in Bharuch district in Gujarat and is expected to be commissioned in 2024.

Premier Explosives Ltd. | CMP Rs 590.55 | Premier Explosives’ share price was locked at 20 percent upper circuit on July 11, as company won orders worth Rs 552.3 crore from the Defence Ministry. The company has won orders from the Ministry of Defence, and the Indian Air Force for supply of Chaffs. The stock also reached a fresh 52- week high of Rs 590.55 on the same day.

Zen Technologies Ltd. | CMP Rs 480.80 | Zen Technologies surged 13 percent on July 11 as company won a Rs 340-crore order in the export markets. On July 6, the company won an order from the Government of India valued at approximately Rs 160 crore. The stock also reached a 52- week high of Rs 489.00 on the same day.

PCBL Ltd. | CMP Rs 168.25 | Shares of PCBL gained 3 percent on July 11, after the company commissioned the first phase of its planned 40,000 MTPA specialty chemicals expansion at its Mudra plant in Gujarat. The stock also hit a fresh 52- week high of Rs 178.30 on the same day.

Mcleod Russel (India) Ltd. | CMP Rs 20.50 | McLeod Russel’s share price gained nearly 3 percent on July 11, a day after the company said that its board has approved agreement with Carbon Resources to monetise identified assets. The proceeds will be used towards debt repayment.

Elecon Engineering Company Ltd. | CMP Rs 722.10 | Shares of Elecon Engineering Company surged 14 percent on July 11, after the company announced its first quarterly results for FY24. The manufacturer of Material handling equipment and incraft carriers posted a 72.6 percent jump in its Q1 net profit, reaching Rs 73 crore compared to Rs 42 crore in the previous year. Additionally, the revenue increased by 26.4 percent, amounting to Rs 414.3 crore, as opposed to Rs 327.7 crore in the previous year.

Minda Corporation Ltd. | CMP Rs 301.85 | Shares of Minda Corporation surged nearly 4 percent on July 11, after the company secured a Rs 750-crore contract from a leading OEM. The stock also reached a 52- week high of Rs 307.70 on the same day.

Gujarat Pipavav Port Ltd. | CMP Rs 122.20 | Shares of Gujarat Pipavav Port gained over 2 percent on July 11 following an on-year rise in container volumes for the June quarter. The port registered a container volume of 191,000 twenty-foot equivalent units in the quarter ended June 30, as against 187,000 last year.

CarTrade Tech Ltd. | CMP Rs 555.95 | Shares of CarTrade Tech surged 14 percent on July 11 after the company announced plans to buy OLX India’s auto sales business in a deal worth Rs 537.43 crore. The company will acquire a 100 percent stake in Sobek Auto India Private Ltd, the arm which operates OLX India’s auto sales segment from OLX India B.V.