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

The Indian equity benchmarks closed in the red on July 12, with the Sensex ending 0.34 percent lower at 65,393.90, and the Nifty was down 0.29 percent at 19,382.60. About 1,696 shares advanced, 1,668 declined and 139 remained unchanged.

Adani Enterprises Ltd. | CMP Rs 2387.90 | Adani Enterprises shares declined 1.5 percent on July 12, a day after the company announced that it has raised Rs 1,250 crore through allotment of non-convertible debentures (NCDs). NCDs are a type of debt instrument issued by corporations or government entities to raise capital.

Mahindra and Mahindra Ltd. | CMP Rs 1570.85 | Shares of Mahindra & Mahindra slipped around 2 percent on July 12 morning as profit-booking slipped into the counter after recent gains. The stock zoomed nearly 6 percent in the past week, which gave investors more room to book partial profits. By close the stock recovered from losses and ended 0.09 percent higher.

Lupin Ltd. | CMP Rs 940.50 | Pharma major Lupin’s share gained nearly 3 percent on July 12 after the company received a establishment inspection report (EIR) from the USFDA for its Pithampur Unit-2 manufacturing facility that manufactures oral solids and ophthalmic dosage forms. The stock also hit a 52-week high of Rs 942.95 on the same day.

Plastiblends India Ltd. | CMP Rs 192.55 | Shares of Plastiblends India slipped 3 on July 12 after the company posted a 24 percent decline in Q1 profit at Rs 7.6 crore from Rs 9.9 crore a year ago, hit by higher input costs. The company’s revenue fell 4.2 percent to Rs 195.7 crore from Rs 204 crore in Q1 FY22-23, while EBITDA margin was down to 6.8 percent from 8 percent during the period.

PCBL Ltd. | CMP Rs 163.15 | Shares of PCBL slipped 3 percent on July 12, a day after the company recorded a decline in its consolidated net profit for the quarter ended June. The carbon maker’s consolidated net profit for the April-June quarter fell 15 percent year-on-year to Rs 109 crore as against Rs 126 crore last fiscal.

Marksans Pharma Ltd. | CMP Rs 101.65 | Shares of Marksans Pharma rallied almost 9 percent on July 12 after the US Food and Drug Administration (FDA) gave it the go-ahead to manufacture a pain relief tablet. The drug maker’s revenue grew 24 percent year-on-year to Rs 1,911 crore in FY23. Net profit for the company increased 42 percent to Rs 266 crore in the same period, while EBIDTA margins increased 124 basis points.

Elgi Equipments Ltd. | CMP Rs 583.20 | Shares of Elgi Equipments jumped 7 percent on July 12 after the manufacturer raised its revenue target. The Coimbatore-headquartered company increased its revenue target to to Rs 3,750 crore under its strategic business plan (SBP) based on double-digit growth in FY23 and favourable growth outlook in this fiscal. The stock also hit a 52-week high of Rs 623.00 on the same day.

MEP Infrastructure Developers Ltd. | CMP Rs 11.75 | Shares of MEP Infrastructure Developers zoomed 16 percent on July 12 after its subsidiary bagged an EPC project. The subsidiary company has entered into agreement with Yellowstone DRC SARL for engineering, procurement and construction of Kasumbalesa Dry Port in Democratic Republic of Congo (DRC). The estimated contract price for EPC contract is between $115 Mio and $130 Mio and to be executed in 24 months from the appointed date.

Jammu and Kashmir Bank Ltd. | CMP Rs 73.15 | Shares of Jammu & Kashmir Bank gained nearly 6 percent on July 12 after the lender said that it was planning to raise funds. Jammu & Kashmir Bank’s revenue grew 14 percent year-on-year to Rs 10,120 crore in FY23, while net profit grew almost 2.5 times to Rs 1,180 crore year-on-year in the same period. EBITDA margins in FY23 improved by 421 basis points.

Delta Corp Ltd. | CMP Rs 189.50 | Shares of Delta Corp tumbled 23 percent on July 12 after the GST Council decided that online gaming, casinos and horse racing will be taxed at 28 percent. This comes at a time when online gaming businesses were on the road to recovery with the formation of Self Regulatory Body (SRB) and lifting of ban on Battlegrounds Mobile India. The stock also hit the 20 percent lower circuit limit at Rs 259.95 on the same day.