Gainers and Losers: 10 stocks that moved the most on August 23

The Sensex was up 213.27 points or 0.33 percent at 65,433.30, and the Nifty was up 47.50 points or 0.24 percent at 19,444.00. About 2015 shares advanced, 1486 shares declined, and 155 shares were unchanged.

Himadri Specialty Chemical | CMP Rs 188 | Shares soared more than 3 percent after the company’s resolution plan along with Dalmia Bharat Refractories for Birla Tyres was given the go-ahead by the committee of creditors (CoC). The company has received a letter of intent from the resolution professional that the plan, which was a collaborative effort between the company and Dalmia Bharat Refractories, has been approved by the committee of creditors of the corporate debtor. The stock price also hit a new 52-week in today’s session.

Shriram Properties | CMP Rs 86 | Shares spurted 8 percent after foreign firm Omega TC Sabre Holdings Pte Limited sold a further 2.29 percent stake, or 39 lakh shares, in the real estate developer. Omega TC Sabre Holdings Pte Limited sold the shares through the open market at an average price of Rs 78.44 a share, amounting to Rs 30.59 crore, bulk deal data shows. In the previous session, Omega had sold 18 lakh shares or 1.06 percent stake.

BEML | CMP Rs 2,182 | Shares rallied 5 percent to hit the 52-week high after the company bagged an order worth Rs 101 crore. In an August 22 statement, the company said that it had bagged an order from the Ministry of Defence for the supply of Command Post Vehicles for Indian Armey with a contract value of Rs 101 crore approximately. On August 7, it received a rolling stock order worth Rs 3,177 crore from Bangalore Rail Corporation Limited.

Crompton Greaves | CMP Rs 308 | Shares traded 3.5 percent higher after recent investor meetings and the announcement of a new business strategy led to positive ratings from brokerage houses. After a muted first quarter, the electronic consumer durables company unveiled the so-called Crompton 2.0 strategy to improve operational efficiency and product marketing. The company will divide its business into strategic units to improve accountability and create separate on-ground sales teams for multiple products. Its plan to premiumise its product portfolio and enter switches, switchgears, wires and cables business seems to have improved investor sentiment.

Poly Medicure | CMP Rs 1,411 | Shares pared gains and traded 2 percent lower. In today’s session, the stock was trading 4 percent higher. after brokerage firm Investec initiated coverage with a “Buy”. For the FY23-26 period, the brokerage firm reported Earnings before interest, depreciation, taxes and amortisation (EBITDA) of around 29 percent and an EPS CAGR of 31 percent. This growth, according to the report, will be on the back of the China-plus-one strategy and government support initiatives.

Linde India | CMP Rs 5,949 | Shares traded 3.2 percent higher. The stock also hit a record a day after the industrial gas company announced that it had been awarded a letter of acceptance by Indian Oil Corporation Limited (IOCL) for an air separation unit. It has been asked to set up an air separation unit at IOCL’s Panipat refinery for the production and supply of instrument air, plant air and cryogenic nitrogen for the refinery’s expansion project, the company told exchanges on August 22. On the completion of the construction and the performance test, Linde India will enter into requisite agreements with IOCL for operating and maintaining the facility for 20 years from the delivery date.

Polycab India | CMP Rs 5,135 | Stock jumped 3 percent in early trade on August 23, hitting a fresh 52-week high of Rs 5,145 on NSE. The company has issued a comfort letter to HDFC Bank for an enhanced borrowing facility for its subsidiary Tirupati Reels Pvt Ltd. The electrical equipment maker’s subsidiary will use the enhanced borrowing facility — up from Rs 52 crore to Rs 89.97 crore — funds for working capital and capex expenditure to meet its business requirement for manufacturing business.

Vodafone India | CMP Rs 7 | Shares surged 1.3 percent after the debt-ridden company announced its plans to clear about Rs 2,400 crore of dues to the government by September, PTI reported on August 22. “Vodafone Idea will clear dues for the June 2023 quarter and spectrum instalment with applicable interest by September, ” a source told the news agency. Vodafone Idea had to pay a licence fee of around Rs 770 crore by July and Rs 1,680 crore as the first instalment for the spectrum it purchased in auctions that were held last year.

Somany Ceramics | CMP Rs 685 | Shares traded 0.5 percent lower after the company entered into a joint venture to operate Cerapro Nepal and acquire a 30 percent stake in it. The joint venture will be for the purpose of establishing a tile manufacturing facility in Nepal for the making of wall and floor tiles and allied products in Nepal, and the sale thereof, the company said in an exchange filing. Upon meeting the conditions stated in the agreement, Somany Ceramics plans to subscribe to 3 million equity shares, each with a face value of NPR 100, totalling NPR 300 million, which is 30 percent of Cerapro Nepal’s issued share capital. The stock erased gains in today’s session.

Hindalco | CMP Rs 461 | Shares traded over 2 percent on the back of higher volumes. The firm recently said in its annual general meeting that it will be investing up to Rs 2,000 crore to set up a “first of its kind” copper and e-waste recycling unit in India.