Gainers & Losers: 10 stocks that moved the most on March 8
A mixed trend was seen on the sectoral front. The power index was up nearly 2 percent, while capital goods and auto indices gained a percent each. Selling was seen in IT, metal, pharma, and realty names
The benchmark indices ended higher in a volatile session on March 8. At close, the Sensex was up 123.63 points, or 0.21%, at 60,348.09, and the Nifty was up 42.90 points, or 0.24%, at 17,754.40.
2/11
IndusInd Bank | CMP: Rs 1,174.50 | The stock jumped over 4 percent after sources told CNBC-TV18 that the Reserve Bank of India is likely to extend the term of IndusInd Bank's chief executive officer Sumant Kathpalia by three years. Kathpalia’s performance as a CEO is good and RBI is likely to root for stability at IndusInd Bank, sources added.
3/11
Bajaj Auto | CMP: Rs 3,805 | The scrip added over 2 percent after financial services company JP Morgan said it is ‘overweight’ on the stock, with a target price of Rs 4,400 a share. It further said that the stock could potentially re-rate in 2023 as the company becomes more aggressive on electric vehicles.
4/11
Hindustan Aeronautics | CMP: Rs 2,861 | The scrip jumped over 5 percent after the defence ministry signed a contract with Hindustan Aeronautics for the procurement of 70 HTT-40 basic trainer aircraft. The Union Cabinet on March 1 approved the purchase of 70 aircraft from HAL for the Indian Air Force at a cost of over Rs 6,800 crore.
GAIL (India) | CMP: Rs 111.10 | The stock price ended in the green on March 8 after the government-owned firm said its board would meet on March 13 to discuss the payment of an interim dividend for the financial year 2022-23. If approved, the record date for the payment would be March 21, the company told exchanges. Global research and broking firm Morgan Stanley has a positive view on the company. The firm gave an “outperform” rating to GAIL with a target price of Rs 124.
6/11
Cipla | CMP: Rs 877 | The share price ended in the red on March 8 after Jefferies slashed its price target for Cipla to Rs 900 a share from Rs 1,100. "We have also lowered the FY24/25 earnings per share (EPS) estimates by 13 percent/15 percent as we factor in delays in key US approvals from the Indore plant post recent observations. A bear-case scenario considering no big US launches for the next two years, sharp erosion in the value of top-selling US drug Albuterol and higher R&D spend leads to a fair value of Rs 740," the research firm said. According to Jefferies, the stock is still away from bear-case value despite a sharp 15 percent fall in a month.
7/11
GR Infraprojects | CMP: Rs 1,032 | The scrip jumped 3 percent after the company said it received a completion certificate for an EPC project in Madhya Pradesh. The civil construction company said it received a completion certificate for a project awarded under the Bharatmala Pariyojana on EPC mode. It involved constructing an eight-lane access-controlled expressway carriageway from Bawadi village in the Ratlam district to Ranni village in the Jhabua district. The cost of the project was Rs 1,047 crore.
8/11
Ashoka Buildcon | CMP: Rs 79.10 | The share price edged higher on March 8 after the company announced bagging a Rs 366.67-crore order in Bihar. The company secured an order from North Bihar Power Distribution Company Ltd for the development of distribution infrastructure at Muzaffarpur Electric Supply Circle, Ashoka Buildcon said in a regulatory filing. The contract value of the project is Rs 366.67 crore.
KPI Green Energy | CMP: Rs 456 | The stock price gained over 5 percent after the company said it signed a power purchase agreement with Jamnagar Air Force Station. KPI Green Energy has signed a Hybrid Power Purchase Agreement of 20 years for 1.845 MWAc capacity with Garrison Engineer, Military Engineer Services, Air Force Station, Jamnagar, under Independent Power Producer (IPP) segment.
10/11
Jubilant Pharmova | CMP: Rs 315 | The share price added over 3 percent after the firm announced that pursuant to the United States Food and Drug Administration inspection of its API manufacturing facility at Nanjangud during December 05-13, 2022, it received a communication from the USFDA through which the regulatory agency assigned the inspection classification of the API facility as “Voluntary Action Indicated (VAI)”. Based on this inspection and the USFDA VAI classification, this facility is in compliance with regard to current good manufacturing practices.
11/11
Ajanta Pharma | CMP: Rs 1,234.50 | The stock price gained over 5 percent after the company announced that its board will consider a buyback of equity shares on March 10. If approved, this will mark the company's third buyback.
![Cipla | CMP: Rs 877 | The share price ended in the red on March 8 after Jefferies slashed its price target for Cipla to Rs 900 per share from Rs 1,100 earlier. "We have also lowered the FY24/25 earnings per share (EPS) estimates by 13 percent/15 percent as we factor in delays in key US approvals from the Indore plant post recent observations. A bear-case scenario considering no big US launches for the next two years, sharp erosion in the value of top-selling US drug Albuterol- and higher R&D spend leads to a fair value of Rs 740," the research firm said. According to Jefferies, the stock is still away the from bear-case value despite a sharp 15 percent fall in one month.](https://images.moneycontrol.com/static-mcnews/2023/01/pharma_tablet_injection_capsule.jpg "Cipla | CMP: Rs 877 | The share price ended in the red on March 8 after Jefferies slashed its price target for Cipla to Rs 900 per share from Rs 1,100 earlier. "We have also lowered the FY24/25 earnings per share (EPS) estimates by 13 percent/15 percent as we factor in delays in key US approvals from the Indore plant post recent observations. A bear-case scenario considering no big US launches for the next two years, sharp erosion in the value of top-selling US drug Albuterol- and higher R&D spend leads to a fair value of Rs 740," the research firm said. According to Jefferies, the stock is still away the from bear-case value despite a sharp 15 percent fall in one month.")
