Gainers & Losers: 10 stocks that moved the most on December 9
At close, the Sensex was down 200.7 points or 0.3 percent at 81,508.5, and the Nifty was down 58.8 points or 0.2 percent at 24,619. About 2,222 shares advanced, 1,692 shares declined, and 151 shares remained unchanged.
Sensex and Nifty traded in a narrow range and ended in red on December 9 as investors awaited two key economic data points scheduled for release this week—US consumer price inflation (CPI) data on December 11 and India's CPI data on December 12. Consumer stocks remained under focus throughout the session, weighed down by Godrej Consumer's weak sales forecast for the December quarter.
2/11
ITI | CMP Rs 368 | Shares surged as much as 15 percent, extending gains for a second consecutive session in a row, driven by soaring volumes and fresh investor interest. Over 4 crore shares changed hands in the morning, taking the total tally to a massive 12 crore shares in two sessions, significantly higher than the one-month and one-week average of 2 crore equity shares on the bourses, Moneycontrol data showed.
3/11
Mishtann Foods | CMP Rs 9.9 | Shares were locked in a 20 percent lower circuit for a second session in a row on December 9 as investors dumped the stock after the company received a show cause notice from the market regulator, Sebi. The show cause notice was issued over the company's Rs 100 crore fund which Sebi stated was misappropriated or diverted through group entities.
4/11
FMCG stocks | Shares of fast-moving consumer goods (FMCG) players witnessed a strong selloff and cracked over 10 percent after a weak quarterly update from industry major Godrej Consumer sparked concerns of an industry-wide demand slowdown. Names like Hindustan Unilever, Dabur, Marico, Tata Consumer Products, Britannia and Godrej Consumer Products struggled with steep losses. Godrej Consumer Products surprised the Street by releasing its quarterly sales updates well before the quarter comes to an end.
CDMO stocks | Shares of contract drug manufacturing organisation (CDMO) players--Divi's Labs, Neuland Labs, Piramal Pharma and Syngene International reeled under pressure and dropped upto almost 5 percent as uncertainty looms over the passage of the US Biosecure Act. This came after the Biosecure Act was kept out of a key defence bill, hinting at the US' softening view over Chinese biotech. The defence bill was the best bet for the bill's approval in 2024, and a failure in its passage this year will bear a negative impact, albeit sentimentally on Indian CDMO players.
6/11
CEAT | CMP Rs 3,415 | Shares rose over 10 percent to hit a fresh record high on December 9 after the company announced it has entered into definitive agreements with Michelin to buy Camso brand’s Off-Highway construction equipment bias tyre and tracks business in an all-cash deal valued at about $225 million.
7/11
SAMIL | CMP Rs 167 | Shares fell as much as 2.5 percent after Kotak Institutional Equities downgraded to 'reduce' from 'add' following the company's acquisition of a 95 percent stake in Japan's Atsumitec for $57 million. Kotak cut by 4-7 percent owing to lower margin pressure assumptions, as it believes global OEMs revising their margin guidance will weigh on the margins of Tier-1 suppliers.
8/11
RITES | CMP: Rs 303 | Shares rose over 2 percent after the company secured an order worth $9.71 million from the Ministry of Public Works, Government of the Co-operative Republic of Guyana. The order is for the upgradation of the Palmyra to Moleson Creek Highway and will be executed over the next 60 months.
Lloyds Metals and Energy | CMP: Rs 1,098 | Shares jumped 4.5 percent fuelled by brokerage firm Incred Equities' upbeat growth outlook and bullish price target. Incred Equities initiated an 'add' call on Lloyds Metals, assigning it a price target of Rs 1,476 which translates into an upside potential of a whopping 40 percent from Friday's close. Incred's bullishness over Lloyds Metals stems from India's soaring steel demand and high iron ore prices, which are likely to benefit the company's growth trajectory.
10/11
Star Health and Allied Insurance | CMP Rs 468 | Shares tanked over 4 percent after it received a Show Cause Notice from the Insurance Regulatory and Development Authority of India (IRDAI) for non-compliance with various IRDAI regulations and guidelines. IRDAI conducted a general inspection from January 31, 2022, to February 11, 2022.
11/11
Indian Textile Exporter stocks | Shares of companies such as Gokaldas, Trident, and Welspun surged up to 14 percent on Monday, as mounting financial and administrative troubles faced by Bangladesh's garment companies raised expectations of manufacturing orders shifting to India.
