Gainers and Losers: 10 stocks that moved the most on September 26

The Indian equity benchmarks ended flat after a volatile session following mixed global cues and continued selling by foreign investors. The Sensex was down 78.22 points or 0.12 percent at 65,945.47, and the Nifty 9.8 points or 0.05 percent at 19,664.70. About 17,91 shares advanced, 1,756 declined and 122 remained unchanged.

Dixon Technologies | CMP Rs 5,092 | The stock rallied over 4 percent after “buy” call on the consumer durable goods maker’s stock from DAM Capital. Seeing further upside, the brokerage has set the target price at Rs 6,000 a share. “The company is participating in the union government’s production-linked incentive (PLI) scheme for IT hardware. We also see strong traction of ramp-up in mobile manufacturing,” the brokerage said.

Varun Beverages | CMP Rs 967 | The stock shot up 5 percent as a “buy” call from Bank of America (BofA) Securities aided an upward move. The foreign brokerage has raised the target price for the share to Rs 1,030, saying, “We expect strong growth and profitability to be sustained by the company despite a volatile macro environment.”

Eicher Motors | CMP Rs 3,472 | The stock, which rose over 2 percent, was one of the top Nifty gainers after global brokerage firm Jefferies raised the target price and made it a preferred pick along with TVS Motors in the two-wheeler segment. Jefferies analysts alleviating competitive concerns, along with tailwinds of two-wheeler demand recovery, industry premiumisation and exports for Eicher Motors’ robust growth prospects.

Strides Pharma | CMP Rs 525 | The scrip declined over 2 percent after the company announced plans to spin off its CDMO (Contract Development and Manufacturing Organisation) and soft gelatin businesses into a new entity, which would likely list in the next 12-15 months. In the past month, the share jumped 22 percent, as against a 1.5 percent gain in the benchmark Sensex. As per the exchange filing, the company proposes to combine the identified CDMO business of Strides, the identified CDMO business of Steriscience and the soft gelatin business under Stelis under one entity called OneSource.

Voltamp Transformers | CMP Rs 4,671 | The stock slumped 5 percent after a Rs 603-crore block deal on the bourses. Around 13 lakh shares or 12.9 percent equity changed hands at an average price of Rs 4,650 a share, a near 6 percent discount from the stock’s closing price of Rs 4,928.50 on September 25. CNBC Awaaz had reported on September 25 that the company’s promoters were looking to sell a combined 10 percent stake.

Tata Steel | CMP Rs 129 | The stock was up over 1 percent after Moody’s Investors Service revised the company’s outlook to “stable” and upgraded its long-term rating in the hope of an improvement in profits and its debt reduction efforts. The steelmaker’s long-term rating was upgraded to ‘Baa3’ from ‘Ba1’, the rating agency said in a statement on September 25. “The upgrade reflects our expectation of the continued strength in Tata Steel’s credit profile due to the company’s solid market position in India,” it said.

RPP Infra Projects | CMP Rs 71 | The shares were locked in a 5 percent upper circuit after the company announced receiving orders worth Rs 482.37 crore. The company got an order from Chennai Petroleum Corporation Limited for road and drain works-1 of CPCL at Nagapattinam in Tamil Nadu at a contract price of Rs 300.44 crore. The order has to be executed in 12 months. The company also received provision of civil works and allied services for an engine test facility along with ancillary work for GRTE at Rajankute, in Karnataka from Defence Research & Development Organization. The contract is worth Rs 90.18 crores and has to be completed in 23 months.

Zensar Technologies | CMP Rs 781 | The share gained 3 percent after the company said it received a Rs 227.65-crore order from the Ministry of Defence. The domestic order is for the supply of Anti-Drone systems. Built into the contract is a comprehensive maintenance contract (CMC) post-warranty, at a cost of Rs 43.22 crores, the company said. The share price has surged nearly 300 percent in the past nine months.

Delta Corp | CMP Rs 140 | The share slumped 2 percent, extending losses for a seventh straight day. The drop comes after celebrated investor Ashish Kacholia dumped his holdings in casino company Delta Corp despite a 20 percent erosion in the stock price. The stock was beaten out of shape after the company announced that it had received a tax notice demanding in excess of Rs 16,000 crore, nearly four times the company’s market cap. Kacholia sold 15 lakh shares in the company.

Fortis Healthcare | CMP Rs 335 | The stock rose 1 percent after the company’s board of directors approved the proposal to acquire Kolkata-based Artistery Properties at an enterprise value of Rs 32 crore. The acquisition will be done via a 99.9 percent stake-buy in the company through a share purchase agreement. Through this acquisition, the pharma company is also set to gain ownership of a building owned by Artistery Properties adjacent to the Fortis Hospital at Anandpur in Kolkata.