Gainers & Losers: 10 stocks that moved the most on August 30

The Indian equity benchmarks closed in the green on August 30. The Sensex was up 0.02 percent at 65,087.25, and the Nifty increased 0.02 percent to 19,347.50. About 2,241 shares advanced, 1,281 declined and 145 remained unchanged.

Zomato Ltd. | CMP Rs 99.80 | Shares of Zomato increased over 5 percent higher on August 30 after a block deal involving 1.17 percent equity took place on the bourses. Around 10 crore shares, amounting to a 1.17 percent stake changed hands at an average floor price of Rs 94.70 apiece. The total deal value was around Rs 947 crore. The stake sale on Wednesday comes just days after another foreign institutional investor, Tiger Global Management, offloaded its entire shareholding of 1.44 percent in Zomato on August 28. The deal earned Tiger Global a total of Rs 1,123.85 crore.

Titagarh Rail Systems Ltd. | CMP Rs 744.30 | Titagarh Rail Systems traded 2 percent higher on August 30 after the rail wagon and coach maker bagged a Rs 350-crore contract from Gujarat Metro Rail Corporation. This is the second such order from the Gujarat Metro Rail Corporation to the company after it received an order worth Rs 857 crore on June 28 this year for providing 72 standard gauge metro coaches to be used for Phase-1 of the Surat Metro Rail project. The company reported a 110.87 percent on-year surge in revenue from operations at Rs 911 crore in the June quarter, while its net profit stood at Rs 62 crore. The operating profit margins for the quarter expanded by 300 basis points on a yearly basis to 12 percent.

Mahindra & Mahindra Financial Services Ltd. | CMP Rs 297.55| Shares of Mahindra & Mahindra Financial Services surged 1.5 percent on August 30 after domestic broking firm Motilal Oswal reported anticipating a favourable growth trajectory for Mahindra Finance, consistent with the historical trend of stronger assets under management (AUM) growth during pre-election fiscal years. Under Mission 2025, the non-bank financial company is aiming at market expansion and streamlining operations through technology, innovative product development, and process enhancements. Motilal Oswal in a report dated August 30 underscores that the company’s investment in cutting-edge technology holds the promise of neutralising past operational fluctuations.

Indiabulls Housing Finance Ltd. | CMP Rs 193.30 | Indiabulls Housing Finance Limited shares jumped 2.5 percent on August 30, continuing the rally after the company repaid Rs 1,112.5 crore worth of bonds and Rs 2,323 crore worth of dollar-denominated external commercial borrowings last week. Indiabulls Housing Finance repaid the 10-year, Rs 1,112.5 crore worth of bonds, on August 28 following the repayment of Rs 2,323 crore of external commercial borrowing on August 24. These borrowings were availed from banks like Barclays, MUFG, Sumitomo Mitsui Trust, CTBC, ANZ, Bank of Taiwan, and others. The housing finance stock has gained almost 23 percent in the last one week since the announcements were made. The stock, however, corrected 2 percent on August 29.

Spandana Sphoorty Financials Ltd. | CMP Rs 799.95 | Shares of Spandana Sphoorty Financial Ltd dropped 3 percent on August 30 after shares worth Rs 275.8 crore changed hands in block deals. A total of 35.8 lakh shares, representing 5.5 percent equity capital, changed hands in the block deal window, as per data from the exchanges. The buyers and sellers involved in the transactions could not be identified immediately. Last month, Spandana Sphoorty Financial had reported a profit after tax (PAT) of Rs 119 crore for Q1 FY24, against a loss of Rs 220 crore during the corresponding quarter last fiscal year.

Mps Ltd. | CMP Rs 1570.05 | Shares of MPS traded up 3.5 percent on August 30 after the company decided to acquire a 65 percent stake in Liberate Group for consideration of AUD 9.32 million. MPS Interactive Systems Limited, a wholly owned subsidiary of MPS, has agreed to acquire 65 percent of the issued and a paid-up capital of Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App-eLearn Pty Ltd (Australia), and Liberate Learning Limited (New Zealand). The remaining 35 percent shareholding of each of the entities of the Liberate Group will be acquired by MPSi in subsequent tranches, the company said.

SBFC Finance Ltd. | CMP Rs 89.15 | Shares of SBFC Finance jumped 3.5 percent on August 30, after the recently listed company posted robust Q1 financial results. The non-banking finance company (NBFC) has recorded a standalone net profit of Rs 47 crore for the quarter ended June FY24, rising 46.5 percent over Rs 32 crore profit in the year-ago period. Further, the net interest income (NII) grew by 40.6 percent on-year to Rs 141 crore during the same quarter.

Suzlon Energy Ltd. | CMP Rs 25.85 | Shares of Suzlon Energy locked in 5 percent on August 30 to hit a 52-week high at Rs 25.85 as it saw 1 percent equity change hands in a large trade worth Rs 232 crore, Bloomberg data showed. Nearly 9 crore shares of Suzlon Energy were sold in a block deal at the NSE. The buyers and sellers are not immediately known. The block deal seemed to have offset the expected impact of the company’s order from Avikiran Solar to set up a 285 MW wind power project in Kutch being downsized to 168 MW.

Shakti Pumps (India) Ltd. | CMP Rs 861.35 | Shares of Shakti Pumps jumped 20 percent on August 30 post a Rs 358 crore order win. The share price is now closing in on its record high of Rs 910, which it hit in June 2021. The share price of the company has nearly doubled this year, rising as much as 92 percent so far. The stock has risen in three out of the last four years, having doubled in 2021 and gained 51 percent in 2020. Shares dropped 36 percent last year.

Gokaldas Exports Ltd. | CMP Rs 867.35 | Gokaldas Exports shares surged 18 percent on August 30 after the company announced the acquisition of Dubai-headquartered Atraco Group. In 2023, the shares outperformed the headline index with a gain of over 112.73 percent as compared to the broader market’s growth of 6.23 percent. This marks the second straight session of gain for Gokaldas Exports shares. During the previous trading day, the stock soared by as much as 20 percent, reaching a 52-week high of Rs 736.30 per share on the BSE.