Gainers & Losers: 10 stocks that moved the most on July 7

Gainers & Losers: 10 stocks that moved the most on July 7

The Indian equity benchmarks closed in red on July 7 on weak global cues and widespread selling. The Sensex closed 0.8 percent down at 65,280.45, and the Nifty was down 0.85 percent at 19,331.80. About 1,473 shares advanced, 1,899 declined and 115 remained unchanged.

Tata Motors Ltd. | CMP Rs 616.20 | Tata Motors extended gains and rose 3 percent after the company reported a strong jump in its Jaguar-Land Rover sales in the April-June quarter. The stock also hit a record high of Rs 621.50 during the day. With the earnings season set to begin next week, all eyes will be on the quarterly earnings of the company. Based on preliminary cash balances, JLR also expects to report positive free cash flow of over £400 million in the first quarter of FY24.

Kalyan Jewellers India Ltd. | CMP Rs 162.55 | Shares of Kalyan Jewellers gained nearly 6 percent after the jewellery maker said its revenue grew 34 percent in the April-June quarter from the year-ago period. The company also plans to launch its first franchise-owned company operated showroom in the July to September quarter.

Capacite Infraprojects Ltd. | CMP Rs 218.40 | Capacit’e Infraprojects Limited slipped over 3 percent despite the company’s capital raising plan. The company’s board on July 6 approved a proposal to raise Rs 96 crore by allotting around 5.6 million shares at Rs 170 each via preferential allotment of shares. Capacite has allotted shares to 17 investors in total.

Olectra Greentech Ltd. | CMP Rs 1231.95 | Olectra Greentech’s shares soared 18 percent after it bagged an order worth Rs 10,000 crore, which is bigger than its market capitalisation, from the Maharashtra State Road Transportation Corporation. Olectra Greentech’s market capitalisation is Rs 9,304 crore. The stock also hit a 52-week high of Rs 1,249.

Talbros Automotive Components Ltd. | CMP Rs 802.60 | Shares of Talbros Automotive Component surged 12 percent after the company received multi-year orders worth Rs 400 crore from electric vehicle original equipment manufacturers (OEMs). The stock also touched a fresh 52-week high of Rs 832 during the day.

SAT Industries Ltd. | CMP Rs 97.90 | The share gained 9 percent after Societe Generale picked a 1.4 percent stake in the investment company. The stock also went past its 52-week high of Rs 94.15. The Europe-based financial services group Societe Generale bought 16.1 lakh shares in SAT Industries at an average price of Rs 85.05 a share.

Praj Industries Ltd. | CMP Rs 397.35 | Praj Industries gained more than 7 percent as the company has signed an agreement with Indian Oil Corporation Limited (IOCL) to strengthen biofuels production capacities in India. In October 2021, both companies entered into an agreement to form a 50:50 joint venture to this end.

Subros Ltd. | CMP Rs 460.10 | Shares of Subros, an automotive air-conditioning manufacturer, surged over 5 percent after the government approved draft notifications mandating AC systems in truck cabins. The government plans to implement this regulation starting January 2025.

Sobha Ltd. | CMP Rs 576.20 | Sobha share price rose nearly 4 percent after the real estate developer clocked its highest-ever quarterly sale in the April-June period of the current financial year. Sobha reported a sale value of Rs 14.65 billion, with a growth of 27.9 percent over Q1FY23 and a marginal increase over Q4FY23. This was achieved with the highest-ever price realisation of Rs 10,506 per sft on a total saleable area of 1,394,117 sft.

Intellect Design Arena Ltd. | CMP Rs 601.80 | Shares of Intellect Design Arena Ltd fell over 3 percent, its biggest drop in eight months, after the company was requested to leave the government marketplace (GeM)due to a competitor offering lower pricing. GeM recently released the Final Rate Contract (FRP), and a competitor submitted a quotation that is around 48 percent lower than the indicative pricing set by the government. The competitor's pricing is nearly 16 percent lower than the pricing offered by Intellect.