Gainers & Losers: Stocks that moved the most on August 21
Sectorally, the realty index shed 1 percent, and the banking index dipped 0.3 percent. Meanwhile, FMCG, healthcare, metal, telecom, and media sectors posted gains of 0.5-1 percent. The BSE midcap index rose 0.4 percent, and the smallcap index added nearly 1 percent.
The Indian market ended with modest gains in a rangebound session on August 21, as investors stayed cautious ahead of the US PMI data and Fed Chair Powell’s upcoming speech at the Jackson Hole Symposium, which could offer clues on potential rate cuts. At close, the Sensex rose 102 points, or 0.1 percent, to 80,905, while the Nifty gained 71 points, or 0.3 percent, to 24,770.
2/11
GE T&D India | CMP: Rs 1,717.5 | Shares fell 5 percent to the lower circuit after the electric equipment company said that the promoter entities are considering to sell a minority equity stake, from their combined 75 percent holding now. In the morning trade, GE T&D India was at Rs 1,717.
3/11
Cyient | CMP: Rs 2,007.9 | Shares rose nearly 4 percent after the company likely sold as much as 14.5 percent stake in Cyient DLM through a block deal. Around 1.2 crore shares of Cyient DLM changed hands at a floor price of Rs 766 per share, taking the overall transaction value to Rs 883.20 crore. Cyient also revealed plans to use the proceeds from the stake sale for capital needs and debt repayment.
4/11
PNB Housing Finance | CMP: Rs 887 | Shares surged over 9 percent after as much as 1.39 crore shares, representing a 5 percent stake in the lender, were sold in a block deal, with private equity investor General Atlantic Singapore Fund being the likely seller. While Moneycontrol could not immediately ascertain the parties involved in the transaction, CNBC-TV18 reported on August 20 that General Atlantic Singapore Fund FII Pte Ltd was planning to unload its entire 5.1 percent stake in PNB Housing Finance, aiming to raise Rs 1,032.7 crore.
Mazagon Dock Shipbuilders | CMP: Rs 4,524 | Shares staged a sharp rebound, recovering from the beating it took in the past three sessions. The stock tanked over 14 percent in the last three sessions but managed to stage a comeback today, surging over 5 percent. The shipbuilding company's growth prospects remained robust. ICICI Securities also anticipates high margins for Mazagon Dock to continue through FY27, driven by major deliveries scheduled over the next 2-3 years.
6/11
Genus Power Infrastructures | CMP: Rs 437.8 | Shares soared 5 percent to end in the upper circuit at Rs 437.75 after the company announced its wholly-owned subsidiary received three Letters of Awards (LOA) worth Rs 3,608.52 crore. The orders involve appointing Advanced Metering Infrastructure Service Providers (AMISPs) to design, supply, install, and commission an Advanced Metering Infrastructure (AMI) system.
7/11
Varun Beverages | CMP: Rs 1,548 | Shares of the franchise partner of PepsiCo, gained 3.5 percent as the Bank of America Securities (BofA Sec) issued a "Buy" call on the stock with a target price of Rs 1,840 per share. The international brokerage highlighted that despite a recent pullback in share price, the company's business fundamentals remain robust, presenting an enhanced buying opportunity.
8/11
FSN E-Commerce Ventures | CMP: Rs 211 | Shares snapped a two-day losing streak to surge nearly 10 percent. Today's sharp rally marked the biggest intraday gain for the direct-to-consumer (D2C) online beauty retailer since November 2022.
NHPC | CMP: Rs 96 per share | The stock fell nearly a percent after a major landslide in East Sikkim caused significant damage to the 510-MW hydroelectric project on the Teesta river. The full extent of the damage to the power station is still being assessed, especially since the dam has been non-operational since October 2023 following flash floods.
10/11
Tech Mahindra | CMP: Rs 1,608 | Shares fell over 1 percent and emerged as the hardest hit among the IT stocks after CLSA downgraded the stock to 'hold' due to concerns over stretched valuations.
11/11
SJVN | CMP: Rs 137.30 | Shares fell nearly 1 percent after Goldman Sachs maintained its 'Sell' recommendation on the state-run hydropower producer. The brokerage firm simultaneously raised the target price on the stock to Rs 85 from Rs 75.
![Varun Beverages | CMP: Rs x | Shares of the franchise partner of PepsiCo, gained x percent as the Bank of America Securities (BofA Sec) issued a "Buy" call on the stock with a target price of Rs 1,840 per share. The international brokerage highlighted that despite a recent pullback in share price, the company's business fundamentals remain robust, presenting an enhanced buying opportunity.](https://images.moneycontrol.com/static-mcnews/2023/07/Varun-Beverages.jpg "Varun Beverages | CMP: Rs x | Shares of the franchise partner of PepsiCo, gained x percent as the Bank of America Securities (BofA Sec) issued a "Buy" call on the stock with a target price of Rs 1,840 per share. The international brokerage highlighted that despite a recent pullback in share price, the company's business fundamentals remain robust, presenting an enhanced buying opportunity.")
