Gainers and Losers: 10 stocks that moved the most on September 4

The market closed higher for the second session in a row on September 4. The Sensex was up 240.98 points or 0.37 percent at 65,628.14, and the Nifty was up 102.20 points or 0.53 percent at 19,537.50. About 2,210 shares advanced, 1,425 declined, and 182 were unchanged.

Coal India | CMP Rs 248 | The stock gained 5 percent after the company posted a 13 percent on-year growth in production at 52.3 million tonnes in August. The supplies reached 59 MT in August 2023 from 51.2 MT a year back, a rise of 15.3 percent, the coal miner said in a regulatory filing. In FY23-24, so far, the state-run miner produced 281.5 MT of fuel, posting an 11 percent YoY growth. During April-August, the total coal off-take jumped 8 percent to 305.5 MT.

IDBI | CMP Rs 65 | The stock traded 8 percent higher after the government invited bids for strategic divestment of the bank. The Centre invited bids to appoint an asset valuer for strategic divestment of the bank. The bids will have to be submitted by October 9. The asset valuer will give fair value of assets and liabilities of the bank. The bank’s investments, loans & advances, deposits, borrowings, and other liabilities will be considered for valuation.

IRFC | CMP Rs 67 | The share zoomed 20 percent as trading volumes surged 11.11 percent from the previous day. The PSU stock has surged over 31 percent in the last two days. The IRFC shares surged 11.72 percent on August 31 with the trading volume at 27 crores. Trading volume on both days stayed higher than the weekly average of 11 crore and the monthly average of 17 crore. The surge in share price has pushed the IRFC market capitalisation to over Rs 86,056 crore.

GMR Power | CMP Rs 34 | The stock was locked in a 20 percent upper circuit on September 4, a day after the infrastructure company announced that its subsidiary, GMR Smart Electricity Distribution, bagged a Rs 5,123.37-crore order from the Uttar Pradesh government. “The company has received the letter of award (LoA) for implementing ‘smart metering project’ in Purvanchal region of Uttar Pradesh which consists of districts namely- Varanasi, Azamgarh, Prayagraj, and Mirzapur,” the company said in a regulatory filing on September 3. GMR Power and Urban Infra was expected to install and maintain 50.17 lakh smart meters in the area, the company said.

Nazara Technologies | CMP Rs 834 | The stock gained 10 percent after its board agreed to issue shares worth Rs 100 crore to Zerodha founders Nikhil and Nithin Kamath, the gaming company said on September 4. “We wish to inform you that the board considered and approved Issuance of up to 14,00,560 shares of the company, for cash, at an issue price of Rs 714 per Equity Share aggregating to an amount of Rs 99,99,99,840 to M/s Kamath Associates (Partnership firm represented by its partners Nikhil Kamath and Nithin Kamath) and M/s NKSquared (Partnership firm represented by its partners Nikhil Kamath and Nithin Kamath),” the company said in a regulatory filing. The latest investment takes Nikhil’s stake in the company to about 3.5 percent from 1 percent. Speaking to CNBC TV-18, Kamath said he planned to raise the stake further.

Eicher Motors | CMP Rs 3,434 | The stock traded 1 percent higher, extending gains from the previous session on the back of better-than-expected sales for the flagship Royal Enfield motorcycles in August. Royal Enfield motorcycle sales rose 11 percent on year to 77,583 units in August. The sales were also well above Nomura’s estimate of 75,000 units. The jump in sales was likely aided by channel filling, as highlighted by the brokerage firm.

RVNL | CMP Rs 154 | The stock gained 12 percent after the company announced over the weekend that it bagged orders worth Rs 604.19 crore from the Madhya Gujarat Vij Company. “The company has received a letter of acceptance for the development of distribution infrastructure work for loss reduction in Vadodara and Dahod districts under the revamped reforms-based and results-linked distribution sector scheme,” the company said in a regulatory filing with the exchanges. The project cost for the Vadodara work is Rs 322.08 crore, while for the Dahod district, it is Rs 282.11 crore. The company is expected to complete the projects in 31 months, it added.

Tata Steel | CMP Rs 132 | The stock closed 3.5 percent higher on September 4 after a report said that the company is in advanced talks to secure funds for its UK plant. Tata Steel is in talks with the UK government for around GBP 500 million in state-backed funding to support its Port Talbot plant, securing thousands of jobs in the country’s steel industry. A deal is reportedly close to being reached, Sky News said.

HEC Infra Projects | CMP Rs 46 | The stock rallied 4.2 percent after the company received a work order from Gujarat Energy Transmission Corporation (GETCO). The company has received the GETCO work order of Rs 36.65 crore for laying, erecting, testing and commissioning of 66 KV 1C, 300 mm2 and 1C, 630mm2 XLPE cable for PolyAI and AI. The order has a deadline of 24 months from the date of the LoA. In August, the company received a work order from the Haryana Vidyut Prasaran Nigam, aggregating to Rs 37 crore, for the supply, erection, civil, testing and commissioning of equipment for the construction of 132 kV and 66 kV composite transmission line in Faridabad, Rohtak and Sirsa to be executed within 15 months and 9 months, respectively.

Lemon Tree | CMP Rs 108 | The stock closed a tad lower from the previous session even after announcing a new hotel in Dehradun. The company signed a licence agreement for an 80-room property in Uttarakhand’s Dehradun under the company’s “Lemon Tree Premier” brand. The hotel is expected to be operational by the third quarter of FY 2025. It will have 80 rooms, two restaurants, a bar, a banquet hall, a swimming pool, a meeting room and other public areas, the company said. Carnation Hotels Private Limited, a wholly owned subsidiary and the hotel management arm of the company, will operate the hotel.