Gainers & Losers: Stocks that moved the most on August 16
All 13 major sectoral indices posted gains, with Nifty IT leading the pack with a nearly 3 percent rise. Midcap and smallcap indices also saw strong performance, each climbing 1.8 percent on August 16.
Benchmark indices Nifty and Sensex ended the week on a strong note buoyed by optimism over a potential rate cut by the US Federal Reserve next month. This sentiment was driven by better-than-expected US inflation data, retail sales figures, and jobless claims. At the close, the Sensex rose 1,331 points, or 1.7 percent, to 80,436, while the Nifty gained 397 points, or 1.7 percent to 24,541. 2,195 shares advanced, 1,194 shares declined, and 85 shares were unchanged.
Hindustan Aeronautics | CMP: Rs 4,758 | Shares rose over 2 percent as in-line Q1FY25 results left analysts impressed, prompting several brokerages to maintain bullish calls on the defence stock.
3/11
Hindustan Zinc | CMP: Rs 518 | Shares tanked over 9 percent as the offer-for-sale, through which promoter Vedanta Ltd will divest a 3.17 percent stake in the company, opened for subscription.
4/11
Suprajit Engineering | CMP: Rs 623 | Shares zoomed 15.6 percent amid heavy volumes after the company's board announced a share buyback of up to 1.5 million shares at price of Rs 750 per share via tender offer. The board of directors determined the record date for the proposed buyback as August 27.
Ola Electric Mobility | CMP: Rs 133 | Shares surged 20 percent after receiving its first-ever 'Buy' rating post June quarter earnings. HSBC initiated coverage on the newly listed company with a price target of Rs 140, suggesting a potential upside of 26 percent from August 14's closing price.
Mahindra & Mahindra | CMP: Rs 2,839.90 | Shares surged 3.5 percent after leading brokerages Nomura and Morgan Stanley expressed confidence in the company's new launch, the Thar Roxx - a five-door variant of the popular off-roader - expected to significantly boost sales.
Paras Defence and Space Technologies | CMP: Rs 1,208.35 | Shares hit a 5 percent upper circuit at Rs 1,208.35 apiece after the company's associate company, Controp-Paras Technologies Pvt Ltd secured a Rs 305 crore-order from Larsen and Toubro (L&T).
RHI Magnesita India | CMP: Rs 624.40 | Shares of the makers of special refractory products rose 5.5 percent after Q1FY25 results showed record EBITDA margin, which expanded to 17.5 percent, helped by recent acquisitions.
Nifty IT |The Indian IT index surged 2.8 percent, leading a broader market rally as robust US economic data eased recession fears. TCS, Infosys, and Wipro led the gains in the IT index.
10/11
Max India | CMP: Rs 300.2 | Shares fell 5 percent after the company announced its Q1 FY25 financial results, revealing a sharp increase in losses and declining revenue.
11/11
DLF | CMP: Rs 866.20 | Shares jumped 5.4 percent after JPMorgan analysts reiterated an 'overweight' rating and raised their target price to Rs 1,000 from Rs 925, indicating a potential 17 percent upside. The revision comes as analysts forecast that the company will exceed $1 billion in operating cash flow at the group level in FY25.
