Gainers & Losers: 10 stocks that moved the most on September 6

The Indian equity benchmarks closed in green on September 6, Sensex was up 0.15 percent at 65,880.52, and the Nifty was up 0.18 percent at 19,611.00. About 1870 shares advanced, 1658 shares declined, and 142 shares remained unchanged.

ABB India Ltd. | CMP Rs 4500.30 | Shares of ABB India rose over 1.5 percent on September 6 after Jefferies maintained its ‘buy’ rating on the company’s stock with a target price of Rs 5,260, implying an upside potential of 16 percent. Strong ordering outlook should ensure ABB India’s execution remains in double digits and a more than 40 percent compounded annual growth in Earnings Per Share in 2022-25, said Jefferies.

Bikaji Foods International Ltd. | CMP Rs 522.75 | Shares of Bikaji Foods International traded 2 percent higher on the NSE on September 6, a day after Lighthouse India Fund III offloaded stake in the Indian snacks manufacturer. According to BSE bulk deals data, Lighthouse India Fund III sold 32.42 lakh equity shares or 1.3 percent stake in Bikaji Foods International through open market transactions at an average price of Rs 480 per share. As of June 2023, Lighthouse India held 2.7 percent stake in Bikaji. Plutus Wealth Management LLP bought 13.5 lakh shares in the company at an average price of Rs 480.11 per share.

Voltas Ltd. | CMP Rs 896.60 | Shares of Voltas surged 3.5 percent on September 6 after brokerage firm Motilal Oswal gave a buy rating for the stock with a target price of Rs 1000. Voltas will continue its leadership in the Room Air Conditioners (RAC) segment with a market share of 21 percent, said Motilal Oswal in a report dated September 6. The main concern about Voltas is the loss in market share in the major room air conditioner segment. However, Motilal Oswal is positive that Voltas should be able to bring back some of that market share over the next couple of years.

Patel Engineering Company Ltd. | CMP Rs 56.60 | Shares of Patel Engineering ended 3 percent on September 6 despite the order win. The company, along with its JV Partner, has received a letter of award for an urban infrastructure development project of Rs 1,275.30 crore from Madhya Pradesh Jal Nigam, which was declared as L1 earlier. The company’s share in the project – being a 35-percent partner in the JV – is Rs 446.36 crore with a timeframe of 24 months.

Syrma SGS Technology Ltd. | CMP Rs 558.00 | Shares of Syrma SGS Technologies Limited climbed 4 percent on September 6 after the company acquired a 51 percent stake in Johari Digital Healthcare Limited (JDHL). More than 10 lakh shares changed hands in today’s session as against the 9 lakh monthly average. The total acquisition is worth Rs 229 crore, the company said in an exchange filing on September 5. JDHL is a global electronic medical device manufacturer.

Safari Industries (India) Ltd. | CMP Rs 3792.55 | Shares of Safari Industries were up 1.5 percent on September 6, a day after SBI Life Insurance picked up a stake in the company. SBI Life Insurance Company has picked up 2.05 lakh shares of Safari Industries through open market transactions at an average price of Rs 3,775 per share, amounting to Rs 77.38 crore, while Investcorp Private Equity Fund II sold 2.14 lakh shares in the company at an average price of Rs 3,775.06 per share. Investcorp previously held a 1.22 percent stake or 2.88 lakh shares in Safari, as per June 2023 data.

EID Parry (India) Ltd. | CMP Rs 522.25 | Shares of EID Parry surged 8 percent on September 5, with marquee scrips rising as much as 10% after the world’s largest sugar trader said that it expects a year of sugar shortages. Avlean, a Switzerland-based company, said that it expects a sixth straight year of sugar deficit as supply would be affected due to a bad crop in India, which is a big sugar-producing country – Bloomberg reported. Investors are keeping a watch on sugar stocks as a deficit supply would lead to pricing-led growth for the companies, thereby increasing their revenues.

Petronet LNG Ltd. | CMP Rs 244.90 | Shares of Petronet LNG surged 7 percent on September 6, even as rising global crude oil prices cast a shadow over the pricing metrics. The global energy prices are on the upswing after Brent crude prices in the past week surged to a 10-month high of over $90 per barrel. Brent crude prices have surged over 6.5 percent in the last seven days following a decision by Saudi Arabia and Russia to extend their voluntary supply cuts till December. The move triggered concern over shortage during peak winter. Earlier this month, the government increased the price of natural gas to $8.60 per metric million British thermal units (mmBtu) for September, from $7.85 in August. However, the price of the gas from the nominated gas fields of ONGC and Oil India has been kept unchanged at the price cap of $6.5 per mmBtu.

NBCC (India) Ltd. | CMP Rs 59.80 | NBCC shares rose more than 6 percent to hit its 52-week high of Rs 63.65 in the opening trade on September 6, after the company said it has won a Rs 2,000-crore order from the Kerala State Housing Board. NBCC has signed an MoU with the Kerala State Housing Board for the development of 17.9 acres of land parcel at Kochi’s Marine Drive. NBCC reported a total operating revenue of Rs 8,754.44 crore for the last financial year FY 2022-23. The company has a market cap of over Rs 10,700 crore as of September 5 close. By close on September 6, the share ended flat.

Nila Infrastructures Ltd. | CMP Rs 6.70 | Nila Infrastructures’ share price was locked at 20 percent upper circuit on September 6 after the company received an order from Shree Infracon Private Limited to construct residential units. The company has received work for the construction of 1,694 Residential flats (R.C.C. Work, Masonry Work, Frame fitting with Plaster Work — Material + Labour) at Ramapir No Tekro, Wadaj, Ahmedabad. The total estimated development cost is Rs 101.64 crore and the said order is to executed within 18 months.