Gainers & losers: 10 stocks that moved the most on June 3
With most exit polls forecasting a landslide victory for the BJP-led NDA, indicating over 350 seats for the coalition, the markets also turned buoyant in hopes of the Street's 'bull case' election scenario turning into a reality.
The exit polls, projecting a landslide victory for the NDA government, drove the Nifty and Sensex to record highs on June 3. With all 13 sectoral indices showing gains, the financial services, oil and gas, and power sectors spearheaded the rally in the Nifty. At close, the Sensex was up 2,507 points or 3.4 percent at 76,468 and the Nifty 50 was up 733 points or 3.3 percent at 23,263. About 2,210 shares rose, 1,310 fell, and 103 were unchanged.
2/10
Ashoka Buildcon | CMP: Rs 195 | Stock price surged 6.5 percent after the company emerged as the lowest bidder for two projects worth Rs 2,153 crore awarded by the Maharashtra State Road Development Corporation.
3/10
Suzlon Energy | CMP: Rs 50 | Suzlon shares jumped 5 percent after international brokerage Morgan Stanley issued an 'overweight' tag to wind energy player Suzlon Energy, with a target price of Rs 58.5 per share. This indicated an upside of 22 percent, as Suzlon is well positioned to benefit from the move to greener, cleaner energy.
4/10
Power Grid | CMP: Rs 338 | Shares of the company closed 9 percent higher as market experts predict a political and policy continuity as captured in the exit polls.
PNC Infratech | CMP: Rs 548 | Share of infrastructure company climbed over 5 percent after it informed exchanges that its subsidiary, PNC Kanpur Highways Ltd, has received a payment of Rs 390.62 crore from the National Highways Authority of India (NHAI) as part of a settlement agreement.
6/10
IRB Infrastructure | CMP: Rs 72 | Shares leaped over 10 percent on reports that the center is likely to increase road toll charges between 3 percent and 5 percent after putting the annual increase on hold in April due to the country's general elections, CNBC TV-18 reported.
7/10
Shipping Corporation of India | CMP: Rs 69 | Shares surged 4.5 percent following reports that the plans to divest stake in the two companies were on the first 100-day agenda of the BJP-led NDA. As per a report by CNBC Awaaz, citing sources, the new government, which is likely to be formed by the NDA if exit polls are anything to go by, is likely to focus on disinvestment in its first 100 days in office.
8/10
Shriram Finance | CMP: Rs 2,520 | Shares climbed 7 percent after the lender raised a multi-currency social loan worth $425 million (about Rs 3,880 crore) through a syndicated term loan transaction to fund its business growth.
GlaxoSmithKline Pharmaceuticals | CMP: Rs 2,505 | Shares of the bucked market trend to fall 4 percent. The fall came after a Delaware judge allowed more than 70,000 lawsuits alleging that its British parent GSK's discontinued heartburn drug Zantac caused cancer, to go forward.
10/10
Godfrey Phillips India | CMP: Rs 3,739 | Shares of the company fell around 4 percent after executive director Samir Modi lodged an FIR in New Delhi’s Sarita Vihar police station, alleging that his mother Bina Modi and Lalit Bhasin, one of the company’s board members, orchestrated an assault on him during the board meeting.
