Gainers & Losers: Stocks that moved the most on August 22
Investors are now closely watching Fed Chair Jerome Powell's upcoming speech at the Jackson Hole Symposium on Friday at 10:00 AM ET, where they hope to gain insights into the timing and scale of the anticipated rate cut.
Amid expectations of a U.S. Federal Reserve rate cut in September, benchmark indices Nifty and Sensex closed the day modestly higher, driven by banking and metal shares. At close, Sensex was up 148 points or 0.2 percent at 81,053, and the Nifty was up 41 points at 24,811.50.
2/11
IREDA | CMP: Rs 259| Shares of green financing NBFC Indian Renewable Energy Development Agency (IREDA) surged over 8 percent after the company said it is considering a fundraising proposal of up to Rs 4,500 crore through qualified institutional placement (QIP), right issue or other means.
3/11
BEML | CMP: Rs 3,891 | Shares gained over a percent after the company said it has signed a Memorandum of Understanding (MoU) with the Indian Navy. “The agreement is important in enhancing bilateral cooperation for the Indigenous Design, Development, Manufacture, Testing, and Product Support of critical Marine Equipment and systems," said BEML.
4/11
Kalyan Jewellers | CMP: Rs 596.40 | Several block deals involving a total of Rs 3,585 crore worth of shares in Kalyan Jewellers took place on the exchanges on August 22 with Highdell Investment likely selling part stake to promoter Trikkur Sitarama Iyer Kalyanaraman. After the block deal, shares of Kalyan Jewellers surged 9.5 percent.
PNB Housing Finance | CMP: Rs 866.50 | Shares fell 3 percent after a block deal worth as much as Rs 715.60 crore took place in the counter, with Asia Opportunities V (Mauritius) being the likely seller in the transaction. Around 81 lakh shares, making up a 3.2 percent stake in the lender changed hands at a floor price of Rs 873 apiece.
6/11
Shyam Metalics and Energy | CMP: Rs 811.35 | Shares rose over 6 percent after brokerage UBS initiated coverage on the company with a 'Buy' rating, adding that the metals company is on a high growth and transformative journey. The target price by UBS is Rs 1,200 per share, indicating an upside of 58 percent.
7/11
Paras Defence and Space Technologies | CMP: Rs 1,294.6 | Shares gained 5 percent after the government granted the space tech player an industrial license to undertake the manufacturing of products.
8/11
Interglobe Aviation | CMP: Rs 4,485 | Shares of the operating company of IndiGo Airlines, saw its shares surge over 4 percent after Jefferies and HSBC issued bullish calls, citing strong growth prospects across multiple fronts. While Jefferies upgraded its rating to 'Buy' from 'Hold', HSBC maintained its 'Buy' on India's largest airlines by market share.
Ola Electric Mobility | CMP: Rs 131.3| Shares fell 5 percent as investors sought to book partial profits after the stock doubled from the IPO price of Rs 76. After listing on August 9, Ola Electric's share price soared over 100 percent to a peak of Rs 157.4. Since then, the stock has corrected by 10 percent.
10/11
Nucleus Software Export | CMP: Rs 1,432 | Shares declined over 6 percent after the company board approved a share buyback plan. This will be the third buyback for Nucleus after 2017 and 2021.
11/11
Awfis Space Solutions | CMP: Rs 861 | Shares rose over 9 percent on the back of the company's expansion plans in Bengaluru. One of India’s largest network of flexible workspaces announced the launch of two new centres at Mantri Commerce and Vista Pixel in Bengaluru.
![BEML | CMP: Rs x | Shares gained x percent after the firm said it has inked a Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy. “The agreement is important in enhancing bilateral cooperation for the Indigenous Design, Development, Manufacture, Testing, and Product Support of critical Marine Equipment and systems," said BEML.](https://images.moneycontrol.com/static-mcnews/2021/04/BEML.jpg "BEML | CMP: Rs x | Shares gained x percent after the firm said it has inked a Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy. “The agreement is important in enhancing bilateral cooperation for the Indigenous Design, Development, Manufacture, Testing, and Product Support of critical Marine Equipment and systems," said BEML.")
