Top gainers and losers today: Stocks that moved the most on March 10

Top gainers and losers today: Stocks that moved the most on March 10

The benchmark market indices ended with modest cuts on March 10, with the Sensex falling 0.36 percent while Nifty 50 down 0.50 percent, giving up 22,500 level in the final hour of selling.

On the sectoral front, Nifty Oil and Gas index plunged the most (1.9%) followed by PSU Banks (1.8%). The mid and smallcap indices underperformed, ending lower by 1.5 and 2 percent, respectively.

1. HFCL shares surged in early trade after its subsidiary secured a Rs 44.36 crore contract from the Indian Army. HTL, the company’s material subsidiary, will supply tactical optical fiber cable assemblies, featuring ruggedized optical fiber cables capable of withstanding armored vehicle loads, along with specialized military-grade connectors designed for extreme conditions.
2. Metal stocks rallied following a bullish stance by Jefferies on the Indian metals sector. Stocks like Tata Steel and JSW Steel gained, buoyed by China’s decision to restructure its steel industry to cut total output. The move is expected to curb cheap steel dumping into India, benefiting domestic
3. Bodal Chemicals stock surged 18 percent early on trade following government's imposition of anti-dumping duty on imports of Trichloro Isocyanuric Acid (TCCA). Bodal Chemicals recently begun its production of TCCA at its Unit 11 in Khambhat, becoming the sole Indian producer of TCCA. Therefore, benefitting from the increase in its bottomline with higher import duty
4. Shares of Trent declined up to 2.5% to Rs 4,873, emerging as one of the top Nifty 50 loser following a note by Kotak Institutional Equities that maintained a ‘Reduce’ rating with a price target of Rs 5,150 citing concerns over revenue throughput due to closely located new Westside and Zudio stores.
5. Tata Power rose 2% after its subsidiary, Tata Power Renewable Energy, signed an MoU with the Andhra Pradesh government to develop up to 7,000 MW of renewable energy projects, including solar, wind, and hybrid solutions. The estimated investment stands at Rs 49,000 crore.
6. Shares of Indian Renewable Energy Development Agency Ltd (IREDA) fell over 1% after the RBI rejected its request for equity investment in Nepal’s 900 MW Upper Karnali Hydropower Project.
7. IndusInd Bank shares tumbled 5% to a 52-week low after multiple analysts downgraded the stock and slashed price targets. The decline followed the RBI’s decision to extend CEO Sumant Kathpalia’s tenure by one year.
8. 360 One Wam's shares plunged 8.2%, steepest fall in three years, amid regulatory restrictions and continued market volatility. Retail participation has weakened following five months of consecutive equity market decline.
9. Gensol Engineering shares dropped for the 10th straight session, accumulating nearly 60% losses over the period. The decline was fueled by promoters offloading a 2.3% stake, selling approximately 9 lakh equity shares.
10. BSE shares declined after Goldman Sachs slashed its price target for the second time in a week, maintaining a ‘Neutral’ rating and cutting its target price to Rs 4,230 per share. The brokerage firm cited concerns over the NSE expiry day shift from Thursday to Monday (effective April 4), which is expected to negatively impact BSE’s options market share.