Gainers & Losers: 10 stocks that moved the most on July 19

The Indian equity benchmarks touched new all-time highs on July 19, with the Sensex ending 0.45 percent higher at 67,097.44, and the Nifty ending 0.49 percent higher at 19,846.20. About 1,961 shares advanced, 1,360 declined and 119 remained unchanged.

NTPC Ltd. | CMP Rs 192.55 | NTPC shares gained 3 percent on July 19, after foreign brokerage firm Goldman Sachs bestowed a favourable buy rating on the power sector giant, considering it as a top pick. Goldman Sachs initiated the buy rating on NTPC with a target price of Rs 265, indicating a potential upside of 42 percent. The brokerage firm highlighted two key influences on NTPC’s growth in India’s power sector. Firstly, the renewable energy transition offers NTPC a chance to unlock a superior business model for higher returns and a broader customer base. Secondly, NTPC’s advantage of low-cost debt positions it as a leader in addressing the ongoing peak power deficit cycle caused by rising demand and insufficient capacity addition.

IndusInd Bank Ltd. | CMP Rs 1419.55 | Shares of IndusInd Bank rallied 2 percent on July 19, buoyed by the lender’s healthy earnings for the April-June quarter. Most brokerages too cheered for its robust financials that helped boost investor sentiment. Foreign brokerage firm Morgan Stanley revised the price target for the stock to Rs 1,800 and retained its ‘overweight’ rating for IndusInd Bank with expectations that the rate cycle has peaked.

ICICI Prudential Life Insurance Company Ltd. | CMP Rs 559.45 | ICICI Prudential Life Insurance shares fell nearly 3 percent on July 19, a day after the insurer reported a 4 percent on-year decline in annualised premium equivalent (APE) to Rs 1,461 crore for the quarter ended June 2023. Annualised premium equivalent is a measure of new business written by a life insurance company. The insurer’s value of new business (VNB), which represents the present value of future profits, stood at Rs 438 crore in the April-June quarter, down 7 percent on-year.

Bikaji Foods International Ltd. | CMP Rs 448.65 | Shares of Bikaji Foods International were up over 5 percent on July 19, following the company’s acquisition of a 49 percent stake in snack maker Bhujialalji. The acquisition, completed on July 19, involved 9,608 equity shares and 396 Compulsorily Convertible Debentures (CCDs). Bikaji did not mention the price it has paid for buying Bhujialalji. The stock also reached a 52-week high of Rs 468.90 on the same day.

Polycab India Ltd. | CMP Rs 4308.85 | Polycab India was trading up over 4 percent on July 19 after brokerage firm Jefferies increased its target price for the stock by 17 percent to Rs 4835 a share, retaining the buy rating. Polycab continues to demonstrate consistent and strong execution, primarily fueled by improved volumes and margins in the cables & wires segment. Polycab’s sales in Q1FY24 and net profit rose; supported by an 88 percent increase in exports, accounting for 9 percent of total sales, reaching 72 countries. However, weaker B2C demand impacted sales and margins in the FMEG segment, which represents approximately 10 percent of the total sales, reported Jefferies.

TV18 Broadcast Ltd. | CMP Rs 42.90 | Shares of TV18 Broadcast jumped 9 percent on July 19 after the company reported a bumper performance for the quarter ended June. The company reported a 151 percent jump in consolidated operating revenue at Rs 3,176 crore for the June quarter, largely driven by the streaming of the Indian Premier League (IPL) on JioCinema. Net Profit was up 52 percent to Rs 91.20 crore, while EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) loss shrank to Rs 54.40 crore in the June quarter from Rs 60.02 crore a year ago.

Sportking India Ltd. | CMP Rs  907.55 | Sportking India Ltd shares rallied nearly 8 percent on July 19 after a series of bulk purchases of stakes by individual investors in the stock. Anil Kumar Goel, an individual investor, picked up 1,31,558 shares, accounting for a 1.04 percent stake in Sportking India Ltd, at an average price of Rs 842 per share. On July 14, Seema Goel purchased 64,000 shares, representing a 0.50 percent stake in Sportking India, at an average price of Rs 825 per share.

Avanti Feeds Ltd. | CMP Rs  405.70 | Shares of Avanti Feeds on July 19 edged 3 percent up after the company incorporated its subsidiary Avanti Pet Care Private Limited, which will expand its business into manufacturing and trading of pet food and pet care products. The newly Incorporated subsidiary company is estimated to complete the project implementation in two years. Investors recognised that the expansion into a new business can be revenue accretive for Avanti Feeds. By close the share ended flat.

Himadri Speciality Chemical Ltd. | CMP Rs 141.45 | Himadri Speciality Chemical shares extended gains in early trade on July 19 after the company’s consolidated net profit doubled year-on-year to Rs 86 crore in the April to June quarter. In Q1FY24, the company’s consolidated revenue decreased by 9% to Rs 950 crore compared to the previous year. The decline was driven by the carbon materials and chemical segment, which fell by 9.2% to Rs 945 crore. However, the EBITDA or operating profit in the April to June quarter increased by 54% YoY to Rs 131 crore. By close, the share ended 2 percent lower.

Medicamen Biotech Ltd. | CMP Rs  773.50 | Medicamen Biotech shares were up 7.5 percent on July 19 after the company announced the successful filing of its first Abbreviated New Drug Application (ANDA) for the BORTEZOMIB injection with the USFDA. For the quarter ended March, the company reported a 20 percent year-on-year increase in revenue to Rs 138 crore in FY23 as against the previous year. The Operating Profit Margins fell to 18 percent while the net profit retained the Rs 15 crore value. The Earnings per Share (EPS) for the stock fell by 3 percent to Rs 11.86 for FY23.