Top gainers and losers today: Stocks that moved the most on March 24

Top gainers and losers today: Stocks that moved the most on March 24

The market maintained its winning streak for the sixth consecutive session, with all sectoral indices closing in the green. Banking, capital goods, oil & gas, power, realty, and telecom stocks gained 1-2 percent, while the BSE Midcap and Smallcap indices advanced 1.5 percent each. At closing, Nifty stood above 23,600, while Sensex rose 1,100 points.

Top Gainers
Poonawalla Fincorp

Shares of Poonawalla Fincorp surged nearly 4% after the company unveiled an AI-powered underwriting solution developed in collaboration with IIT Bombay. This cutting-edge tool integrates Large Language Models (LLM) and Machine Learning (ML) to automate and streamline credit evaluation, leading to faster decision-making for credit managers.

Kotak Mahindra Bank

Kotak Mahindra Bank soared over 4% to touch a 41-month high of Rs 2,174, marking its highest level since October 2021. The rally came on the back of key leadership appointments, including Bhavnish Lathia as the new Chief Technology Officer (CTO), a move seen as a strategic push toward digital banking.

Manappuram Finance

Manappuram Finance jumped over 4% to hit its intraday high, continuing its 22% rally over eight consecutive sessions. The surge follows the company’s Rs 4,400 crore deal with Bain Capital, which acquired an 18% stake in Manappuram, signaling strong institutional interest. Additionally, multiple brokerage firms have issued bullish calls on the stock, further boosting momentum.

RailTel Corporation of India

RailTel shares soared 10% to trade at Rs 339 after the company secured a Rs 25.15 crore order from Hindustan Petroleum Corporation. At its peak, the railway PSU stock had skyrocketed to 6.5 times its IPO price of Rs 94. It later witnessed a steep 57% decline to a recent low of Rs 265 on March 3.

Hindustan Aeronautics

Hindustan Aeronautics Ltd. (HAL) surged 5.09%. The rally was fueled by trading volumes exceeding the 5-day average, indicating heightened investor interest. 

Top Losers
KEC International

KEC International witnessed a sharp decline of 3.73%, closing at Rs 808.85, amid heavy trading volumes. 

Titan

Titan shares declined 3% after Ambit Securities cautioned about a potential slowdown in Q4 growth momentum. The stock has already lost 18% over the past six months, significantly underperforming the Nifty 50, which has fallen 9% in the same period. The concerns raised by Ambit have heightened investor caution, particularly amid broader worries about sluggish demand in the discretionary spending segment.

Mahindra & Mahindra

Mahindra & Mahindra shares experienced a notable decline of 3.01%, making it one of the biggest laggards in today’s session. Despite strong financial performance and consistent revenue growth, the shares dropped after reports suggested that it is in talks to acquire Japan's Sumitomo Corp's entire stake in heavy vehicle-maker SML Isuzu.

IndusInd Bank

IndusInd Bank shares slipped 2.50%, erasing early gains after reports surfaced that the lender had engaged Grant Thornton to conduct a forensic audit into recent accounting lapses. The audit is aimed at identifying any evidence of fraud or internal misstatements, raising concerns among investors. This development has increased regulatory scrutiny and dampened sentiment, despite the stock's recent resilience.

Bharti Airtel

Bharti Airtel shares ended the day 0.40% lower after reports suggested that the government may not offer relief on AGR dues, a setback for telecom players. Earlier, a proposal was floated to waive 50% of  the interest component and 100% of the penalty. However, the Cabinet Secretariat has reportedly informed the Department of Telecom that no such relief is under consideration.