Gainers & Losers: 10 stocks that moved the most on June 22
Equity benchmarks the Sensex and the Nifty each closed 0.45 lower on June 22. As many as 1,283 shares advanced, 2,154 declined and 119 remained unchanged
The Indian equity benchmarks ended lower on June 22, with the Sensex down 0.45 percent at 63,238.89 and the Nifty sliding 0.45 percent to 18,771.30. As many as 1,283 shares advanced, 2,154 declined and 119 shares remained unchanged.
2/11
Larsen & Toubro Ltd. | CMP Rs 2416.25 | Shares of L&T hit a fresh 52-week high on June 22 after the company announced the signing of a contract with DRDO for two Air Independent Propulsion (AIP) System Modules for Kalvari Class of submarines for the Indian Navy.
3/11
Delhivery Ltd. | CMP Rs 385.05 | Shares of Delhivery surged more than 7 percent in the early trade on June 22 to Rs 416.25, the highest in six months after around 1.8 crore of its shares changed hands on the exchanges in a block deal. By close, the share gave up the gains and ended a percent lower.
4/11
Mankind Pharma Ltd. | CMP Rs 1681.40 | Mankind Pharma stock gained almost 2 percent in the morning trade on June 22 but squandered the gains to close a percent lower. Kotak Institutional Equities initiated coverage on the stock with an “add” rating and a target price of Rs 1,875, an 11 percent upside from the current market price on June 22. “We expect its 15 percent domestic sales CAGR to outpace the 9-13 percent organic domestic sales CAGR for the rest of our coverage over FY2023-26E,” Kotak's note said.
Sansera Engineering Ltd. | CMP Rs 871.70 | Shares of Sansera Engineering jumped 8 percent to hit a 52-week high of Rs 909.8 following large deals on June 22. The stock pared some of the gains and closed 3.5 percent higher. Ebene and CVCIGP II Employees EBENE were expected to sell 14.1 percent equity stake in the Bengaluru-based company for Rs 627.5 crore through a block deal. The offer price has reportedly been set at Rs 799.85-841.95 per share.
6/11
NMDC Ltd. | CMP Rs 105.75 | NMDC shares were down 1 percent on June 22 after Life Insurance Corporation (LIC) trimmed its stake in the state-run company by 2 percent between March 14, 2023, to June 20, 2023. The move gains significance as this is the second time LIC has divested a 2 percent stake in the iron ore company. NMDC recorded a 22.3 percent jump in its consolidated net profit for the fourth quarter of FY23, amounting to Rs 2,276 crore as compared with Rs 1,862 crore in the fourth quarter of the previous fiscal year. The company's profit from primary operations slumped 30 percent YoY due to muted demand and offsetting price hikes in iron ore in March 2023.
7/11
Brightcom Group Ltd. | CMP Rs 33.05 | Shares of Brightcom Group were frozen on June 22 after the stock hit the lower end of the 5 percent circuit filter on both the BSE and the National Stock Exchange (NSE). Brightcom Group, a digital marketing company, has been at the centre of controversy due to a drastic decline in investors' wealth, with a 90 percent erosion over the past year. In Q4 FY23, Brightcom Group reported a net profit of Rs 229.15 crore, compared to Rs 223 crore in the same quarter of the previous year. On June 14, Sebi also levied fines of Rs 40 lakh on Brightcom Group and its promoters for flouting regulatory norms.
8/11
JSW Energy Ltd. | CMP Rs 272.10 | Shares of JSW Energy gave up the day's gains to close a percent lower. Recently, several power sector stocks have seen heavy buying, indicating a more broad-based rally in the midcap space. In May, Kotak Institutional Equities maintained its 'sell' rating on the stock as it believes that the likelihood of near-doubling of earnings over the next three years on the back of aggressive capacity addition, has already been factored in the stock price.
Venus Remedies Ltd. | CMP Rs 251.30 | Shares of Venus Remedies zoomed 5 percent on June 22 after the pharma company announced receiving the approval to market meropenem, a drug used in treating skin and abdominal infections, in Spain. The company got the approval through its German subsidiary. Venus Remedies has managed to record about $27 million in sales solely through the marketing of meropenem and plans to capture a 10 percent stake in the $6.34-million meropenem market of Spain.
10/11
Glenmark Pharmaceuticals Ltd. | CMP Rs 627.70 | Shares of Glenmark Pharmaceuticals fell 2.4 percent on June 22, a day after the US Food and Drug Administration issued a warning letter to the drugmaker's Monroe facility in the US. Last week, Glenmark also substantially reduced the cost of its version of trastuzumab, a drug used in the treatment of breast cancer. The drug, marketed as Trumab, will now be accessible to patients at a price 30-40 percent lower compared to the prevailing market rates. Glenmark's trastuzumab variant will be priced at Rs 15,749 per vial.
11/11
Shyam Metalics & Energy Ltd. | CMP Rs 342.45 | The share price of Shyam Metalics and Energy climbed 2.5 percent to its 52-week high of Rs 355.95 in early trade on June 22 after the company said that it started production at its West Bengal plant but gave up the gains to close 1.5 percent lower from the previous close.
