Gainers and Losers: Top 10 stocks that moved the most on August 17

The Sensex was down 388.40 points or 0.59 percent at 65,151.02, and the Nifty was down 99.70 points or 0.51 percent at 19,365.30. About 1,777 shares advanced, 1,696 shares declined, and 152 shares were unchanged. Benchmark indices ended lower on August 17 with Nifty below 19,400 amid selling across the sectors barring PSU Banks.

Bata India | CMP Rs 1,79 | Shares jumped 5.6 percent after a news report said that the shoe and leather goods maker has entered talks with Adidas for a tie-up for the Indian market. The stock is still far below its 52-week high of Rs 1,989, hit exactly a year ago on August 17, 2022. The two footwear companies — Bata India and Adidas — are in talks for a strategic partnership and are likely at an advanced stage, CNBC-TV18 reported citing unidentified sources.

JSW | CMP Rs 788 | Shares were down 1 percent on August 17 after its promoter JSW investments offloaded its 1.28-percent stake for Rs 717.57 crore in open market transactions on August 16. As per the bulk trade numbers published by the Bombay Stock Exchange, JSW Investments has sold 2.1 crore equity shares, or 1.28 percent stake in the company, at a price of Rs 341.7 per share. Meanwhile, the Rajiv Jain-backed GQG Partners Emerging Markets Equity Fund bought a 0.62 percent stake for Rs 351 crore in the company. The investment firm purchased 1.03 crore shares via open market transactions at an average price of Rs 341.7 per share. The company pared losses as the stock also tanked 3 percent in today’s session.

Rashtriya Chemicals and Fertilisers | CMP Rs 110 | Shares jumped 3 percent after it received the environmental clearance for setting up a nano-urea plant at its Trombay facility in Mumbai suburbs. In a filing with the exchanges, the state-owned fertiliser producer said it had received the green light from the Ministry of Environment, Forest and Climate Change for installing a nano-urea fertiliser production plant. The company informed that the plant would be capable of producing 27,375 kilo-litre a year.

Shriram Finance | CMP Rs 1,844 | Shares darted up 3 percent after UBS initiated coverage on the non-banking finance company with a ‘buy’ rating, citing its EPS growth potential. UBS said the company is a leader in the organised high-yield used commercial vehicles financing and two-wheeler segments. It expects the net interest margin (NIM) compression to be transitory, adding that accomplishing new segments will be key for the firm.

Adani Power | CMP Rs 286 | Share price gained 2.5 percent, recovering the previous day’s loss, after it became known that GQG Partners was the buyer of 8.1 percent equity stake in the company. Adani Power stock rose to as high as Rs 288.3 in the morning, against the previous close of Rs 279.9. Earlier, on August 16, Adani Power shares dropped as much as 4 percent intraday before recouping some of the losses to end the day at Rs 279.9, on reports of a sale of 8.1 percent equity stake. After the market closed, it was revealed that Rajiv Jain’s GQG Partners bought the stake for about Rs 9,000 crore ($1.1 billion).

Cipla | CMP Rs 1,241 | Shares fell 0.2 percent on August 17 after the Konkan division of the Food and Drugs Administration (FDA) ordered for the suspension of the license issued to the company’s Patalganga manufacturing unit for 10 days in December 2023. The order was a result of non-conformance of good manufacturing practices at the said facility under the Drugs and Cosmetics Act 1940. The stock also fell over a percent in today’s session.

Amara Raja Batteries | CMP Rs 622 | Shares gained 2 percent after the company said it plans to expand into the two-wheeler electric vehicle (EV) market as part of a target to triple its lithium-ion business this financial year, according to a recent report by Reuters. The battery-maker, which currently has customers only in the three-wheeler EV market, gets about 2.5 percent of its revenue from its lithium-ion battery business, and the rest of the chunk originates from its flagship lead acid storage battery-making unit.

Ramkrishna Forgings | CMP Rs 613 | Share price rose 1 percent to hit a 52-week high after the company bagged contract worth Rs 145 crore. The company has been awarded a business contract valued at 16 million euros (approximately Rs 145 crore ) under a four-year agreement. On August 14, the company received a $13.65 million (about Rs 107 crore) order from clients in the North American region for the supply of rear axle and transmission components. The stock also gained over 3 percent today.

Nava | CMP Rs 386 | Shares traded down over 5 percent after the company halted production of silico manganese at its Odisha plant because of an accident. The accident took place in the plant’s raw material handling system on August 16. “There has been an accidental damage in the raw material handling system, affecting raw material feeding and other supporting infrastructure. There were no human injuries or casualties due to this accident,” the company said in a regulatory filing. The company assured investors of insurance coverage for material damage and business disruption.

Globus Spirits | CMP Rs 922 | Shares slumped over 7 percent amid reports that a large block deal involving an 8.5 percent stake in the company is likely to take place on the bourses. A CNBC-TV18 report said that Around 25 lakh shares, amounting to 8.5 percent equity, will change hands at an average floor price of Rs 975-985 apiece, a 1-2 percent discount from the previous day’s closing price of Rs 996.45.