Gainers & Losers | Stocks that moved the most on August 20
Except for Nifty FMCG, all 12 major sectoral indices closed in the green. Nifty PSU Bank gained 1.7 percent, emerging as the top gainer amongst them. Meanwhile, India VIX, the fear gauge, dropped 3.5 percent to 13.8.
Benchmark indices Nifty and Sensex closed strong, buoyed by gains in bank and IT stocks. Investors are now focused on the Federal Reserve's July policy meeting minutes and Jerome Powell's upcoming speech at the Jackson Hole symposium for clues on U.S. interest rates. At close, the Sensex was up 378 points or 0.5 percent at 80,803 and the Nifty was up 126 points at 24,699. About 2,151 shares advanced, 1,496 shares declined, and 86 shares were unchanged.
2/11
Allcargo Logistics | CMP: Rs 67.2 | Shares zoomed over 9 percent as investors cheered the company's healthy business update for the month of July.
3/11
Angel One | CMP: Rs 2,650 | Shares gained over 13 percent on heavy volumes, rising for a fourth straight session. Over 1 crore Angel One shares changed hands on BSE and NSE combined, compared to the one-month average trading volume of 11 lakh equity shares.
4/11
Poly Medicure | CMP: Rs 2,196 | Shares rose over 3 percent after CNBC-TV18 reported citing sources that the company has launched a Qualified Institutional Placement (QIP) to raise Rs 1,000 crore. As per the report, the QIP is expected to lead to a 5.54 percent equity dilution for the company as compared to the pre-issue outstanding capital.
Mazagon Dock Shipbuilders | CMP: Rs 4,297 | Shares fell 9 percent as ICICI Securities extended the streak of maintaining a 'sell' recommendation on the stock while it anticipates a sharp downside of around 77 percent for the company's share price.
6/11
Sequent Scientific | CMP: Rs 163 | Shares rose 3.6 percent after it received prequalification (PQ) approval from the World Health Organization (WHO) for its Albendazole Active Pharmaceutical Ingredient (API).
7/11
Nucleus Software Exports | CMP: Rs 1,410 | Shares were locked in 20 percent upper circuit at Rs 1,411 apiece as the company plans to mull buyback of its equity shares two days later. This will be the third buyback, if approved, for Nucleus after 2017 and 2021.
8/11
IndusInd Bank | CMP: Rs 1,382 | Shares gained 2.6 percent after the Reserve Bank of India (RBI) approved plan to set up a wholly-owned asset management subsidiary. Nomura is viewing this as a positive step, marking the bank’s entry into direct para-banking, potentially paving the way for smaller banks to follow suit. However, it adds that one should expect only a modest impact on valuations over the medium term.
Tech Mahindra | CMP: Rs 1,629 | Shares gained over 2 percent after its management approved the sale of 103-acre land in Hyderabad for a cash consideration of Rs 535 crore.
10/11
KEI Industries | CMP: Rs 4,700 | Shares rose nearly 8 percent after international brokerage UBS initiated coverage on the cables and wire major with a bullish call. The brokerage believes the favourable demand-supply dynamics will benefit the industry leaders.
11/11
Ola Electric Mobility | CMP: Rs 137.80 | Shares slipped nearly 6 percent to trade over 14 percent lower from the record high of Rs 157.4, hit early in the day on the National Stock Exchange (NSE). Since its listing earlier this month, the stock has surged 107 percent over its issue price of Rs 76, more than doubling investors' capital.
