Gainers & Losers: 10 stocks that moved the most on August 25

The Indian equity benchmarks closed in red on August 25. The Sensex was down 0.56 percent at 64,886.51, and the Nifty declined 0.62 percent to 19,265.80. About 1,431 shares advanced, 2,093 declined and 111 remained unchanged.

Coforge Ltd. | CMP Rs 5266.05 | Coforge Limited shares closed 2.5 percent lower after a host of funds picked up a 10.3 percent stake, worth Rs 2,976 crore in the mid-sized IT company. According to data, SBI Mutual Fund, Societe Generale – ODI, Smallcap World Fund Inc, Morgan Stanley Asia Singapore Pte, Kotak Funds – India Midcap Fund, ICICI Prudential Life Insurance Company, HDFC Mutual Fund, and Aditya Birla Sun Life Mutual Fund were the buyers.

Engineers India Ltd. | CMP Rs 158.20 | Shares of Engineers India fell more than 2 percent on August 25, a day after the engineering consultancy firm said its board of directors approved the acquisition of a 4.37 percent equity stake in Numaligarh Refinery (NRL). Engineers India will subscribe to 1.26 crore equity shares at Rs 110 a share in a rights issue of the Guwahati-based Numaligarh Refinery, it said in a stock exchange filing. The acquisition cost works out to about Rs 138 crore.

Shoppers Stop Ltd. | CMP Rs 709.05 | Shoppers Stop tanked 13 percent after the retail major announced that Venugopal Nair had quit as the managing director. The company said that he will be replaced by Kavindra Mishra, the chief commercial officer of its in-house brand HomeStop, who has now been promoted as executive director and chief executive officer.

Universal Autofoundry Ltd. | CMP Rs 232.05 | Shares of Universal Autofoundry Limited were locked in 20 percent upper circuit 20 after ace investor Ashish Kancholia picked up an 8.54 percent stake or 10.34 lakh shares in the company through open market transactions at an average price of Rs 161.59 per share on August 24. The grey iron casting manufacturer was locked at Rs 232 per share, trading 20 percent higher from the previous close on the NSE. In the last two sessions, Universal shares have gained 44 percent.

KFin Technologies Ltd. | CMP Rs 427.85 | Kfin Tech shares were up 11 percent after Jefferies initiated a ‘buy’ rating on the stock with a target price of Rs 500. The foreign brokerage firm said KFin is a leading player providing services to mutual funds and issuer solutions to listed corporates. “It enjoys market leadership, and will benefit from financialisation of savings,” the brokerage said in a report. It also said international and alternatives are new growth avenues for Kfin Tech. Jefferies sees healthy growth in profit and cash flow for the company.

Syrma SGS Technology Ltd. | CMP Rs 537.75 | Syrma SGS Technology closed 9 percent higher after Nuvama Institutional Equities retained its “buy” recommendation on the stock with a target price of Rs 760. Its business model’s strength should help Syrma sustain its valuation beyond the present high growth phase, Nuvama Institutional Equities has said, adding it liked the firm’s straightforward execution-focused strategy. 

Kaynes Technology India Ltd. | CMP Rs 1984.30 | Kaynes Technology share surged 7 percent after the company signed a memorandum of understanding (MoU) with the Karnataka government. The MoU with the electronics and IT department is for an investment of Rs 3,750 crore to set up a semiconductor assembly & testing facility and printed circuit board (PCB) manufacturing plant through its step-down subsidiaries.

VST Tillers Tractors Ltd. | CMP Rs 3541.65 | Shares of VST Tillers Tractors Limited jumped over 6.5 percent after the company entered into an agreement with the US-based Solectrac to jointly develop an electric power tiller and other agricultural machines. In the first quarter, VST reported over three-fold growth in net profit to Rs 33 crore. The company’s revenue from operations increased to Rs 246.14 crore and EBITDA stood at Rs 49.84 crore for the quarter April- June quarter.

KPI Green Energy Ltd. | CMP Rs 923.05 | KPI Green Energy share price rose 6.5 percent after the company received commissioning certificates for its wind-solar hybrid project. The company has received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for a 4.10-MW wind-solar hybrid power project at Bharuch in Gujarat. The company posted a 50 percent jump in its June quarter net profit at Rs 33.26 crore.

Astra Microwave Products Ltd. | CMP Rs 377.15 | Astra Microwave share price rose 2 percent after the company bagged orders worth Rs 158 crore for satellite and radar systems. The orders are from the Defence Research and Development Organisation (DRDO), the Indian Space Research Organisation (ISRO) and Defence Public Sector Undertakings (DPSUs) to supply satellite sub-systems, airborne radar and sub-systems of radar and EW projects, the company said. ICICI Securities has maintained a “buy” call on the stock with an unchanged target price of Rs 425.