Gainers & Losers: Stocks and sectors that moved the most on October 11
Benchmark indices ended mildly in the red, with the Nifty 50 slipping under the 25k market to continue the sideways trend seen over the past few sessions.
Benchmark indices ended mildly in the red. Investor sentiment soured due to FII sell-offs, weak Q2 FY25 earnings forecasts, and rising geopolitical concerns, and weakness in the mother market.
2/11
Bondada Engineering | CMP: Rs 614.7 | Bondada Engineering climbed 5 percent on October 11 after the company bagged two orders, worth a cumulative total of Rs 1,132 crore. The company has secured two EPC (Engineering, Procurement and Construction) contracts under the MSKVY 2.0 scheme for the development of crystalline ground-mounted solar PV power plants across various districts of Maharashtra.
3/11
Cummins India | CMP Rs 3,604.15 | Shares slipped 6 percent to Rs 3,565 in morning trade on October 11 after Goldman Sachs downgraded the counter to 'sell' and trimmed the target price citing numerous concerns for the company. With a price target of Rs 2,900, the international brokerage implies a downside potential of 23 percent from the last closing price of Rs 3,783 on the NSE.
4/11
Ashoka Metcast | CMP: Rs 26.78 | The stock surged to hit the 20 percent upper circuit after the company reported a significant rise in net profit, surging 894.29 percent on-year to Rs 3.48 crore in the quarter ended September 2024. The company's sales also saw robust growth, increasing 142.47 percent YoY to Rs 14.33 crore.
Tata Consultancy Services | CMP: Rs 4,146 | Shares ended X percent lower following lacklustre September-quarter earnings that revealed a weak operational performance, declining margins, and limited sign of recovery.
6/11
Usha Martin | CMP: Rs 419.5 | Shares of Usha Martin surged more than 16 percent to hit a fresh record high on account of a sharp surge in trading volumes. So far in the day, around 3 crore shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 7 lakh shares.
7/11
Aurionpro Solutions | CMP: Rs 1,745 | Shares jumped over 4 percent to reach an intraday high of Rs 1,764 in the afternoon on the BSE after the company announced it is launching its transaction banking platform in Saudi Arabia. "The bank has chosen Aurionpro's next-generation cash management and Transaction banking platform, to deliver a seamless and contextual customer experience to its corporate clients."
8/11
Exide Industries | CMP: Rs 530 | Shares rose by X percent after the auto components company invested over Rs 99 crore in its subsidiary, Exide Energy Solutions, through a rights issue. With this, Exide Industries' total investment in Exide Energy Solutions has reached Rs 2,852.24 crore, while maintaining its shareholding percentage in the subsidiary.
Metal stocks | Shares of metal companies surged upto 3.5 percent in hopes of more stimulus from the Chinese government. Metal names had witnessed profit booking earlier this week after China's state planner failed to announce more stimulus measures or even details on how its plans to revive the country's battered property sector.However, hopes were reignited when news broke that China's Finance Minister is set to hold a briefing on Saturday, where further stimulus measures are expected to be announced. According to a Bloomberg report, investors are anticipating a potential fiscal stimulus package of up to 2 trillion yuan, or $283 billion.
10/11
Just Dial | CMP: Rs 1,309 | Shares rose X percent after the company's net profit for the September quarter doubled to Rs 154 crore from Rs 72 crore last year. The revenue for the quarter increased by 9.1 percent from last year to Rs 284.8 crore.
11/11
CreditAccess Grameen | CMP Rs 1,080 | Shares declined 3 percent to Rs 1,088 in morning trade on October 11 after Nomura downgraded the stock to 'reduce' from 'neutral' and slashed its price target. With Rs 950 as its target price, the international brokerage implies a downside of about 15 percent from the last close of Rs 1,119 per share on the NSE. CreditAccess shares have tanked 30 percent since the start of the year.
![Aurionpro Solutions | CMP Rs xx | Shares jumped over 4 percent to reach an intraday high of Rs 1,764 in the afternoon on the BSE after the company announced it is launching its transaction banking platform in Saudi Arabia. "The bank has chosen Aurionpro's next-generation cash management and Transaction banking platform, to deliver a seamless and contextual customer experience to its corporate clients."](https://images.moneycontrol.com/static-mcnews/2020/06/AURIONPRO-SOLUTIONS.jpg "Aurionpro Solutions | CMP Rs xx | Shares jumped over 4 percent to reach an intraday high of Rs 1,764 in the afternoon on the BSE after the company announced it is launching its transaction banking platform in Saudi Arabia. "The bank has chosen Aurionpro's next-generation cash management and Transaction banking platform, to deliver a seamless and contextual customer experience to its corporate clients."")
