Gainers & Losers: 10 stocks that moved the most on September 16
At the close, the Sensex was up 97.84 points or 0.12 percent at 82,988.78, and the Nifty was up 27.30 points or 0.11 percent at 25,383.80. About 2,080 shares advanced, 1,862 shares declined, and 85 shares unchanged.
After hitting record highs at the open on September 16, the Sensex and Nifty saw a marginal rise in the final hour of trade, buoyed by strong buying interest in banking, construction, power, and metal stocks. Investors remain optimistic about the possibility of a rate cut cycle following the US Federal Reserve's upcoming FOMC meeting on September 17-18, also adding to the market momentum.
2/11
Union Bank of India | CMP: Rs 123 per share | The stock rallied almost 3 percent on September 16, following an upgrade by Investec, which moved the stock to a 'buy' rating and set a target price of Rs 151, indicating a potential 19 percent upside from current levels.
3/11
Bajaj Finance | CMP Rs 7,345 per share | Shares of Bajaj Finance dipped nearly 4 percent on the BSE on September 16 after the listing of Bajaj Housing Finance on the bourses. Bajaj Housing Finance shares made a bumper debut on the stock exchanges with the shares getting listed at Rs 150 on the BSE. This was a 114.28 percent premium over the IPO issue price of Rs 70.
4/11
Bajaj Finserv | CMP Rs 1,857 per share | Shares slipped 2 percent after the listing of Bajaj Housing Finance on the bourses. Bajaj Housing Finance shares made a bumper debut on the stock exchanges with the shares getting listed at Rs 150 on the BSE. This was a 114.28 percent premium over the IPO issue price of Rs 70.
Stove Kraft | CMP: Rs 937 per share | The stock surged almost 8 percent after Emkay Global initiated a 'buy' rating with a target price of Rs 1,350. Analysts are optimistic, citing the stock’s attractive valuations and the company’s strong innovation and 'value for money' positioning.
6/11
FMCG | The Nifty FMCG index fell 1 percent dragged down by HUL, Varun Beverages, and Godrej Consumer Products. This followed the Indian government’s hike in basic customs duties on crude soybean, sunflower, and palm oils to 20 percent from zero, and on refined oils to 32.5 percent from 12.5 percent, effective September 14. The move, aimed at supporting farmers by countering falling commodity prices, may negatively impact consumers as FMCG companies could face pressure to raise prices.
7/11
Adani Power | CMP Rs 665 per share | Shares soared around 6 percent on September 16 after the two Adani group companies said they have received a Letter of Intent (LoI) for the supply of 6,600 MW hybrid solar and thermal power from Maharashtra State DISCOM.
8/11
Galaxy Surfactants | CMP: Rs 3,293 per share | The stock zoomed over 8 percent on September 16 on the National Stock Exchange (NSE), driven by high volumes. So far in the day, a total of 1 lakh shares of the company changed hands on BSE and NSE combined, compared to the monthly average trading volume of 27,000 shares.
Dixon Technologies | CMP Rs 13,990 per share | Shares rose almost 8 percent and hit a 52-week high after its subsidiary Padget Electronics signed an MoU with ASUS to manufacture notebooks in India. ASUS is a multi-national company known for motherboards and high-quality personal computers as well as a leading consumer notebook vendor.
10/11
India Shelter Finance Corporation | CMP Rs 732 per share | Shares dropped by almost 8 percent on September 16, marking the steepest decline since its listing in December 2023, following a significant trade on the bourses. Around 65 lakh shares, representing nearly 6 percent of the company's total equity, were exchanged in this large transaction on Monday.
11/11
BSE | CMP Rs 3,431 per share | Shares zoomed over 18 percent on September 16 and hit an all-time high of Rs 3,448 on the National Stock Exchange (NSE), driven by high volumes. So far in the day, a total of 33 lakh shares of the company changed hands on BSE and NSE combined, compared to the monthly average trading volume of eight lakh shares.
