Gainers and Losers: 10 stocks that moved the most on September 15

The Sensex was up 319.63 points or 0.47 percent at 67,838.63, and the Nifty was up 89.20 points or 0.44 percent at 20,192.30. About 1,872 shares advanced, 1,649 shares declined, and 145 shares were unchanged.

Bajaj Auto | CMP Rs 5,130 | Shares traded nearly 6 percent higher after BofA securities revised its recommendation on the stock to ‘Buy’ from Neutral, citing multiple levers to growth. Furthermore, the brokerage firm has also raised the target price to Rs 5,550, an upside potential of about 15 percent from the closing price of September 14. Analysts at the firm said that, for the company, the ‘time to triumph’ is right now and suggest there are multiple triggers for the growing sentiment for the two-wheeler automobile giant.

Sequent Scientific | CMP Rs 92 | Shares soared over 4 percent after the company’s board approved the sale of its API (Active Pharmaceutical Ingredient) facility in Thane. The steep gains were also backed by strong volumes as 25 lakh shares changed hands on the bourses, significantly higher than the one-month daily traded average of 12 lakh shares.

Oil India | CMP Rs 284 | Shares traded 2.5 percent higher FTER reports of the state-owned company’s Chairman and Managing Director Ranjit Rath having said that it intends to invest Rs 25,000 crore in renewable energy. This he said was in order to achieve the net zero emissions goal by 2040. The company intends to invest Rs 8,000 crore from the said amount for setting up a 2G ethanol plant, apart from the capital needed from transitioning its diesel-fired engines to those of gas, he added.

Shakti Pump | CMP Rs 858 | Shares spurted 9 percent after getting a letter of award worth Rs 293 crore from the Department of Agriculture, Uttar Pradesh for 10,000 pumps. “Shakti Pumps (India) Limited has received a Letter of Award under PM- KUSUM III scheme under component-B from Department of Agriculture, Uttar Pradesh for 10,000 pumps,” Shakti Pumps India said in a regulatory filing.

Asian Paints | CMP Rs 3,196 | Shares slumped 1.4 percent, extending gains after Brent Crude surged to $90 per barrel. The surge in oil prices has indeed adversely impacted the paint manufacturing industry, primarily because many raw materials used in paints are petroleum-based. The increase in input costs for important raw materials could impact the total manufacturing cost and in turn pressure on margins of paint companies.

Bharat Forge | CMP Rs 1,134 | Shares traded 2.5 percent higher after the company’s United Arab Emirates-based defence business partner Paramount Group said it would increase the production of armoured vehicles through its India based facility. “The global armoured vehicle market is undergoing a monumental shift. We are excited to broaden our partnership to include the development and production of 4×4 and 6×6 Infantry Combat Vehicles for customers around the world,” Paramount-group chief Steve Griessel said.

Lemon Tree | CMP Rs 121 | Shares fell 1 percent after the company signed a license agreement for 2 new properties in Gujarat and Nepal. The two new properties in Junagadh, Gujarat, and Chitwan, Nepal, will function under the company’s brand “Lemon Tree Hotel” and “Lemon Tree Resort”, respectively. The Junagadh property will feature 64 well-appointed rooms, a restaurant, a banquet hall, meeting room, and other public areas and is expected to be operational by FY2025.

IHCL | CMP Rs 416 | Shares slumped 2 percent on September 15. This dip comes a day after it signed a Taj Hotel in Frankfurt, Germany under an operating lease arrangement. The company said that the Taj Hotel Hessischer Hof Frankfurt in Germany will re-open in 2025 after refurbishment. While the new design will feature modern accents, it will also preserve the architectural integrity of the historical structure.

Strides Pharma | CMP Rs 493 | Shares soared over 5 percent after its stepdown wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, received tentative approval for Dolutegravir 50mg tablets from the United States Food & Drug Administration (USFDA). The product is the bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Tivicay Tablets of ViiV Healthcare Company.

GMM Pfaudler | CMP Rs 1,839 | Shares zoomed over 4 percent after its wholly-owned subsidiary, GMM Pfaudler US, entered into an agreement to acquire 100 percent share capital of Canada-based MixPro. “A total consideration of USD 7 million will be paid to acquire MixPro and the transaction will be funded through internal accruals and is expected to close by October 2023”, the company said in an exchange filing on September 14. Speaking on the acquisition, the management has said that the acquisition is in line with GMM’s strategy of building a mixing technologies business.