Gainers & Losers: 10 stocks that moved the most on September 23
The Sensex and Nifty were in green after having surged to record highs in early trade on September 23, driven by a wave of optimism following last week's Federal Reserve rate cut, which has ignited risk-on sentiment among investors.
September 23, 2024 / 15:54 IST
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The Sensex and Nifty were in green after having surged to record highs in early trade on September 23, driven by a wave of optimism following last week's Federal Reserve rate cut, which has ignited risk-on sentiment among investors. Key contributors to the rally came from banking, energy, and auto stocks, while the IT sector lagged behind. At close, the Sensex was up 384.30 points or 0.45 percent at 84,928.61, and the Nifty was up 148.05 points or 0.57 percent at 25,939.00. About 2273 shares advanced, 1661 shares declined, and 119 shares unchanged.
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Indus Towers | CMP: Rs 402| Shares jumped 4 percent after CITI issued a 'buy' call on the stock with a target price of Rs 500 per share. The recent Supreme Court dismissal of the AGR petition is not expected to have an immediate impact on Vodafone Idea's cash flows; however, it could affect near-term stock sentiment, the brokerage said.
3/11
Adani Total Gas | CMP: Rs 829 | Shares surged over 5 percent after the company successfully secured a financing package of $375 million from global lenders. The city gas joint venture between Adani Group and TotalEnergies of France said that this financing marks the largest global funding initiative in the CGD (city gas distribution) business.
4/11
SpiceJet | CMP: Rs 70 | Shares zoomed over 5 percent after the airline raised Rs 3,000 crore by selling shares to qualified institutional buyers (QIBs), offering a significant boost for the struggling low-cost carrier.
Hind Rectifiers | CMP Rs 856 | Shares surged 5 percent to hit the upper circuit after the company secured a supply order worth over Rs 200 crore from Indian Railways. The order will be executed by FY26, according to the terms and conditions outlined by Indian Railways, Hind Rectifiers said in a regulatory filing.
6/11
Fusion Micro Finance | CMP: Rs 275 | Shares crashed over 10 percent after Investec downgraded the stock to 'sell' from 'hold' and slashed the target price to Rs 300 apiece from Rs 500. The downgrade came after the company hinted at a higher estimated credit loss (ECL) provisioning for the second quarter of FY25 as compared to Q1.
7/11
Aarti Drugs | CMP: Rs 526 | Shares rose 1 percent after US FDA issued Form 483 with seven observations for the company's API manufacturing facility in Tarapur, Maharashtra. The inspection was conducted from September 12-20. None of the observations are related to data integrity.
8/11
Glenmark Pharma | CMP: Rs 1,705 | Shares skyrocketed 5 percent after the company's manufacturing Aurangabad facility cleared the US Food and Drug Administration's routine inspection with zero observations.
Vodafone Idea | CMP: Rs 11 | Shares soared 4 percent after the telecom operator inked a mega $3.6 billion (roughly Rs 30,000 crore) deal with Nokia, Ericsson, and Samsung for the supply network equipment over three years.
10/11
Skipper | CMP Rs 478 | Shares rallied 15 percent after Axis Securities initiated coverage on the counter with a 'buy' on the counter and price target of Rs 600 per share as it sees robust growth prospects. The domestic brokerage firm forecasts an upside potential of 44 percent from the last closing price of Rs 418 on the National Stock Exchange.
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Nifty IT | It was the only sectoral index in the red, slipping 0.5 percent, weighed down by Infosys, Tech Mahindra, and TCS. The IT sector, which saw gains of 12 percent, 13 percent, and 5 percent from June to August, has faced profit booking in September. So far this month, Nifty IT has dropped over 2 percent.
