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

The Indian equity benchmarks closed in green on September 25, Sensex was up 0.02 percent at 66,023.69, and the Nifty was up 0.20 percent at 19,674.50. About 1817 shares advanced, 1835 shares declined, and 161 shares remained unchanged.

Delta Corp Ltd. | CMP Rs 142.80 | Delta Corp shares hit a lower circuit of 19 percent on September 25 as investors dumped the stock after the casino operator received a massive tax notice of Rs 16,822 crore. The claim by the tax department is 3.5x Delta Corp’s last closing market cap and more than double the company’s last decade’s revenue. In Q2, the company’s net profit surged 18.86% YoY to Rs 67.91 crore, while revenue from operations grew 10.74% to Rs 277.65 crore. Total expenses also rose to Rs 195.01 crore from Rs 179 crore in the same quarter last year.

The Ramco Cements Ltd. | CMP Rs 940.80 | Shares of The Ramco Cements surged over 5 percent higher on September 25, buoyed by high-volume trade and positive brokerage outlook on the company’s business in the near term. Nearly 10 lakh shares of the company exchanged hands at the bourses against a monthly average of 3 lakh shares. A ‘buy’ rating from the Geojit Financial Service with the target price set at Rs 1,034 seemed to have contributed to the stock’s upward move.

Bajaj Finance Ltd. | CMP Rs 7819.85 | Shares of Bajaj Finance gained over 4.5 percent on September 25 after Moneycontrol exclusively reported citing sources that the company was planning a mega fund raise to the tune of $800 million- $1 billion. Buoyed by the development, shares of Bajaj Finserv, the holding company, also tarded 2.4 percent higher to Rs 1,581. Following the development, foreign brokerage firm CLSA, which has a ‘buy’ call on the stock, raised its price target for Bajaj Finance to Rs 9,500 per share, reflecting a strong upside potential of over 27 percent.

LT Foods Ltd. | CMP Rs 163.40 | LT Foods shares traded over 3 percent higher on September 25 a day before its investor meet after chief executive Ashwani Kumar Arora said that he expects the health and convenience vertical to increase its contribution to the rice-processors revenue. In its results for the April-June quarter, the company reported a 10.36 percent YoY (year-on-year) increase in revenue from operations at Rs 1,778 crore. Net profit for the quarter was up 44.21 percent YoY at Rs 137 crore. The operating profit margins for the quarter expanded by 200 basis points on a yearly basis to 12 percent.

DCX Systems Ltd. | CMP Rs 306.95 | DCX Systems shares were trading 4 percent higher on September 25 after the company announced that its subsidiary Raneal Advanced Systems had received ‘all necessary approvals’ for the production of printed circuit board assembly (PCBA). The stock has a P/E of 38.27x making it the second cheapest in absolute terms among its peers.

Zen Technologies Ltd. | CMP Rs 756.20 | Shares of Zen Technologies surged 5 percent on September 25 after the defence equipment manufacturer received orders worth Rs 227.6 crore from the government, though the benchmark index traded flat. The company has been frequently winning orders from the government in recent days. The company secured orders of Rs 123.3 crore from the defence ministry (inclusive of 18 percent GST) on September 5 and had an order book of Rs 72.29 crore on August 31. As of June 30, the order book stood at Rs 542 crore. The stock has surged over 304 percent so far this fiscal as against an 8 percent gain in BSE Sensex.

Strides Pharma Science Ltd. | CMP Rs 535.85 | Shares of Strides Pharma Science gained 7.5 percent on September 25 after the company’s subsidiary received approval for its cardiac drug from the US Food and Drug Administration (USFDA). The company has set a target to launch 60 new products over three years in the US.

Religare Enterprises Ltd. | CMP Rs 252.95 | Shares of Religare Enterprises slumped nearly 7 percent on September 25 after M.B. Finmart Private Limited, Puran Associates Private Limited, VIC Enterprises Private Limited, and Milky Investment & Trading Company jointly announced an open offer to acquire up to 90,042,541 fully paid-up equity shares of the company.

India Metals & Ferro Alloys Ltd. | CMP Rs 427.45 | Shares of Indian Metals & Ferro Alloys Ltd zoomed over 9 percent to a near-two-year high after the company announced it would receive Rs 417 crore in compensation from the coal ministry for its subsidiary Utkal Coal Ltd. In the June quarter, the firm reported a revenue of Rs 701 crore as against Rs 743.42 crore a year ago. Net profit for the quarter stood at Rs 110.39 crore as against Rs 134.08 crore last year.

Berger Paints India Ltd. | CMP Rs 611.40 | Shares of Berger Paints India fell 9 percent to Rs 617 per share on the BSE on September 25 on low volumes, giving up the previous day’s surge. The paints and coating giant saw its volume decline by as much as 60 percent to 29 lakh shares from 75 lakhs traded at the exchanges on September 22. Axis Securities and ICICI Direct have given ‘hold’ and ‘reduce’ ratings for the stock respectively.