Top gainers and losers today: Stocks that moved the most on January 16

Top gainers and losers today: Stocks that moved the most on January 16

Benchmark indices Nifty and Sensex began January 16 on a positive note, registering their third consecutive day of gains. Investor sentiment was bolstered by better-than-expected US inflation data for December, which fueled expectations of further rate cuts by the Federal Reserve. While PSU bank and metal stocks led the charge, losses in FMCG stocks moderated the overall momentum. Nifty closed at Rs 23,311.80; up by 0.42%, while Sensex closed at Rs 77,042.82; up by 0.42%.

GAINERS

Railway Stocks (CMP: Rs 143 ; up by 3.95%): Railway stocks saw a strong surge on January 16, following reports that the Union Budget for 2025-26, set to be presented on February 1, may include a significant 15-18% increase in the budget allocation for the Ministry of Railways. This anticipated rise has uplifted investor sentiment, reversing the recent downtrend. Ircon International led the rally, with its shares rising by 11.45% to Rs 212.5 on the NSE. Similarly, Rail Vikas Nigam Ltd (RVNL) and Railtel Corporation of India also saw gains of 11.66% and 8.77%, respectively.

IDBI Bank (CMP: Rs 79.61 ; up by 7.31%): Shares jumped 12% to Rs 82 after Moneycontrol reported that the state-run lender has moved to the next stage of its divestment process, with global consultancy firm KPMG conducting due diligence to prepare for financial bids.

Delhivery (CMP: Rs 331.45 ; up by 2.03%): Shares rose 3.09% to Rs 334.90 after the company launched a Rapid Commerce service offering sub-2-hour deliveries, catering to increasing consumer demand for faster fulfillment.

HDFC Bank (CMP: Rs 1654.85 ; up by 0.72%): Shares gained 10% after the company reported Q3 results exceeding expectations, prompting brokerages and market experts to maintain an optimistic outlook on the insurer.

Bharat Dynamics (CMP: Rs 1200 ; up by 5.82%): Shares of Bharat Dynamics surged over 8% to reach an intraday high of Rs 1,227.9 on January 16 after the defence manufacturer secured a significant order worth Rs 2,960 crore from the Ministry of Defence. The company announced in an exchange filing that it had signed a contract for the supply of Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy. The contract was finalized in New Delhi, with Defence Secretary Rajesh Kumar Singh in attendance.

LOSERS

Oracle Financial Services Software (OFSS) (CMP: Rs 158.31 ; down by 1.28%): Shares fell over 5% after the company reported a nearly 27% drop in consolidated net profit for Q3 FY 2025, disappointing investors.

PVR Inox Ltd (CMP: Rs 1083 ; down by 0.097% ): Shares fell 26%, but JM Financial noted the decline as an attractive entry point, maintaining a "Buy" rating with a revised target price of Rs 1,600, implying a 47% upside from current levels.

CEAT (CMP: Rs 3048 ; down by 0.28%): Shares dropped 7.5% to Rs 2,825 after the company reported a 46.5% YoY decline in net profit for Q3 FY 2025, falling short of market expectations.

Nelco (CMP: Rs 1143 ; down by 2.18%): Shares of Nelco declined by 5.02% following the release of its financial results for December 2024. The stock opened at Rs 1,176 and fell to a low of Rs 1,117 during the session. The decline came after the company reported a drop in key financial metrics, including an 11.68% decrease in net sales, a 20.04% fall in quarterly net profit, and a 24.49% decline in EBITDA, which raised concerns among investors about the company's financial performance.

Voltas Ltd. (CMP: Rs 1588.30 ; down by 2.27%): Shares fell by 3.02% on January 16, 2025, marking its second consecutive day of losses. The stock dropped to an intraday low of Rs 1592.6, and is currently trading above its 200-day moving average, but below its shorter-term averages. Over the past month, it has experienced a 12.16% decline.