Gainers & losers: Stocks and sectors that moved the most on June 14

About 2,251 shares rose, 1,516 fell, while 114 were unchanged.

Indian benchmarks- the Nifty 50 and the 30-stock Sensex shrugged early jitters and rebounded in trade after opening in the red to scale fresh record highs. Both the benchmarks have been setting new peaks in the past week as investors factor optimism over the union budget, which is likely to be announced on July 22.  At close, the Sensex was up 181.87 points or 0.24 percent at 76,992.77, and the Nifty was up 66.70 points or 0.29 percent at 23,465.60.

Ambuja Cement | CMP: Rs 673.60 | Shares of the Adani group firm gained over 1 percent after it announced the acquisition of South-based Penna Cement for Rs 10,442 crore. Jefferies has a 'buy' rating on the stock with a target price of Rs 735 per share. The brokerage said that the acquisition would strengthen the positioning of the Adani group cement company as a growing pan-India leader.

EIH Associated Hotels| CMP: Rs 901 | Shares of the flagship company of The Oberoi Group gained around 6.5 percent ahead of the company's board meeting to consider and approve the issue of bonus shares to the equity shareholders of the company.

Puravankara Limited | CMP: Rs 439 | Shares gained a percent after the real estate company said it will be raising funds up to Rs 1,000 crore via the Qualified Institutional Placement (QIP) route. The QIP may involve the issuance of various financial instruments, including equity shares, debentures or preference shares, subject to final approval by the board.

Mahindra & Mahindra | CMP: Rs 2,924 | Shares rose over 2 percent, buoyed by the growing optimism and strong growth outlook for the automotive major. M&M's market capitalisation had also briefly overtaken that of Tata Motors to become India's second most valuable automobile company after it scaled a record high.

Kotle Patil Developers | CMP: Rs 438.75 | Shares slumped nearly 8 percent after the company's chief executive officer Rahul Talele resigned from his post with effect from June 14.

Insurance stocks | Insurance stocks rose after May industry data exhibited steady growth in premiums. Shares of ICICI Prudential, New India Assurance, ICICI Lombard, SBI Life, General Insurance, HDFC Life, Star Health, and LIC surged up to 5 percent in trade. Data showed that the general insurance industry was off to a strong start in May, wherein premiums rose by 15 percent year-on-year (YoY) in May, while premiums in standalone health insurance rose by 26 percent YoY.

Prestige Estates | CMP: Rs 1,916 | The stock of this realty player hit an all-time high of Rs 1,997 per share on June 14 after global brokerage firm CLSA reiterated its 'buy' rating and raised the target price to Rs 2,320, suggesting a potential upside of over 16 percent from current levels.

Adani Ports and Special Economic Zone | CMP: Rs 1,429.70 | Shares rose 2 percent as Kotak Institutional Equities raised its target price on the stock to Rs 1,650 per share from Rs 1,550 earlier. The upgrade is on account of the company’s continued outperformance in FYTD24. The brokerage highlighted that despite a weak start to the year for the Indian stock market, Adani Ports has continued to outperform. This outperformance is expected to be sustainable, with potential boosts to margins, said Kotak.

Balrampur Chini | CMP: Rs 430 | Shares fell 2 percent as investors rushed to book profits after the surge in the stock in the previous session. Sugar stocks surged in the last session driven by expectations of a hike in the minimum sale price (MSP) for the 2024-25 season.

IT stocks | Investors turned to book profits across technology names on a day after it fared well as the US Federal Reserve indicated one rate cut this year, contrary to Street expectations of no rate cuts. Shares of TCS, Tech Mahindra, Wipro, Infosys, and HCL Tech tumbled up to 1 percent.