Gainers & Losers: 10 stocks that moved the most on August 29
The two benchmarks fell prey to profit booking which pulled the indices off the record highs, touched earlier in the session. The broader market lagged behind the headline indices as the smallcap and midcap indices closed in the red.
The Sensex ended the session up by 399.73 points or 0.49 percent at 82,185.29, while the Nifty gained 106.20 points or 0.42 percent to close at 25,158.50. Market breadth was negative, with 1,348 shares advancing, 2,421 shares declining, and 95 shares remaining unchanged. The BSE Midcap and Smallcap indices both declined by 0.5 percent. Sectorally, oil & gas, IT, and FMCG saw gains, while auto, capital goods, media, metal, and power sectors traded lower, down by 0.5-1 percent.
2/11
Reliance Industries | CMP Rs 3,043 | Shares rose nearly 2 percent after India's most valuable conglomerate announced that its board will consider a 1:1 bonus share at on September 5. The announcement comes ahead of the 47th annual general meeting today (August 29). With this bonus issue, the Mukesh Ambani-led conglomerate aims to reward shareholders for its strong financial performance and business expansion.
3/11
JM Financial | CMP Rs 106.90 | The stock surged 5 percent on high volumes. So far in the day, around five crore shares of the company changed hands on BSE and NSE combined as against a 1-month average trading volume of 69 lakh shares. For the quarter ended June 30, 2024, it reported a 6.2 percent on-year (YoY) dip in net profit at Rs 60.4 crore.
4/11
Zen Technologies | CMP Rs 1,734.15 | Shares hit a 5 percent lower circuit on August 29 as profit-booking persisted. The company's market cap dropped to Rs 14,525 crore. The stock had previously surged nearly 20 percent between August 6 and August 26, prompting investors to lock in gains since.
Concord Biotech | CMP Rs 1,707 | surged nearly 6 percent to hit an all-time high on high volumes. So far in the day, around 24 lakh shares of the company changed hands on BSE and NSE combined as against 1-month average trading volume of 79,000 shares. The company's earnings for the quarter ended June 2024 came in slightly below expectations.
6/11
Genus Power | CMP Rs 465.80 | Shares surged to a new all-time high of Rs 466 each on August 29, hitting the 5 percent upper circuit limit. This remarkable gain came after the company announced its arm secured new orders worth Rs 4,469 crore. With these new contracts, the company’s total order book now stands at a robust Rs 32,500 crore.
7/11
Sonata Software | CMP Rs 662 | Shares rose 6 percent following its multi-year, multi-million dollar IT outsourcing contract from a US-based premier healthcare and wellness company. The company's primary focus is delivering personalised, high-quality care that addresses the unique needs of vulnerable patients and underserved populations in challenging clinical environments and other behavioural health settings.
8/11
PFC | CMP Rs 555.5 | Shares rose 3 percent following UBS's initiation of 'buy' calls on the counter. The brokerage highlighted a strong growth outlook for both companies, driven by their strategic focus on renewables and infrastructure financing. The firm favors PFC over REC. UBS pointed to the energy transition and rising infrastructure investments as key growth drivers, emphasizing that these factors support positive market momentum.
KEC International | CMP Rs 903.30 | Shares rose 4 percent following the company's announcement of winning new Transmission and Distribution (T&D) orders worth Rs 1,171 crore in the Middle East. The orders include a 400 kV transmission line in the UAE and a 380 kV transmission line in Saudi Arabia.
10/11
IndiGo | CMP Rs 4,769.45 | Shares slipped 2 percent after 6 percent stake in IndiGo parent company, InterGlobe Aviation were sold in a block deal on August 29, with promoter and co-founder Rakesh Gangwal likely seeking a near complete exit. CNBC-TV18 reported on August 28 that Rakesh Gangwal was looking to further pare his stake in the aviation company by offloading equity worth Rs 10,300 crore.
11/11
Paytm | CMP Rs 555 | Shares gained over 3 percent following recent brokerage updates, which reflected positive sentiment from the government's approval for investment in Paytm Payment Services Limited (PPSL) and the upcoming RBI decision. The fintech company is set to resubmit its payment aggregator (PA) license application to the Reserve Bank of India (RBI).
