Gainers & Losers: Stocks that moved the most on December 10
At close, the Sensex was up 1.6 at 81,510 and the Nifty was down 9 points or 0.04 percent at 24,610. About 1,969 shares advanced, 1,828 shares declined, and 122 shares remained unchanged.
The Sensex and Nifty flatlined on December 10 after having wavered in a narrow range for most of the trading session as caution prevailed ahead of the upcoming US and India CPI data due this week. The benchmarks briefly dipped into the red but found support as the midcap and smallcap indices gained 0.3 percent each, helping the benchmarks close largely unchanged from the previous session. Amid a lacklustre session, the IT index emerged as a star performer, hitting a record high of 45,377.75, led by Infosys, LTIMindtree, and Wipro.
2/11
Waaree Energies |CMP Rs 3,134 | Shares rallied as much as 7.2 percent, extending its remarkable rally to five trading sessions in a row after it secured a new order to supply up to 1 GW of solar modules. The order comes from a prominent renewable energy company in India, with deliveries planned for FY25 and FY26, as per the company’s regulatory filing.
3/11
Swiggy | CMP Rs 543 | Shares rallied over 4 percent intraday after CLSA was among the latest to initiate coverage on recently-listed food delivery player. The brokerage issued a bullish 'outperform' call, seeing a target price of Rs 708 per share, indicating a whopping 32 percent upside from current levels. As a result, shares of the player surged over 4 percent in the morning session on December 10.
4/11
CEAT | CMP Rs 3,223 |After surging over 10 percent in the previous session on news, CEAT shares fell 6 percent on heavy volumes and profit booking. Investors had given a thumb’s up to the company’s decision to acquire global tyre maker Michelin’s Camso brand of ‘off-highway tyres’ (OHT). The deal, valued at Rs 1,900 crore includes the brand, two manufacturing facilities in Sri Lanka and the high-technology products and tracking business.
Life Insurance Corporation of India (LIC) | CMP Rs 948 | The share price dropped nearly 4 percent amid a decline in November premiums for the state-run insurer. The insurance behemoth reported a drop of 27 percent year-on-year (YOY). Both total and retail APE for LIC were down in November, by 19 percent and 12 percent, respectively.
6/11
Greaves Cotton | CMP Rs 252 | Shares rallied 18 percent on December 10, extending gains for a second session in a row, as ace investor Vijay Kedia acquired 12 lakh shares through a block deal, representing a 0.52 percent equity in the company.
7/11
Religare Enterprises | CMP Rs 288 | Shares jumped nearly 4 percent on the exchanges on December 10 after the Reserve Bank of India (RBI) cleared Burman family's open offer to acquire an additional 26 percent stake in the company.
8/11
CE Info Systems | CMP Rs 1,816| Shares of the owners of MapmyIndia tanked 5 percent as investors rushed to take home partial profits after the recent bull run in the stock. With today's fall, the stock also snapped a four day winning streak wherein it clocked in close to 23 percent gains.
Borosil Renewables | CMP Rs 592 | Shares extended their winning streak to the sixth consecutive session, surging close to 32 percent during the period. In today's session as well, the stock managed to close x percent higher, aided by a spike in trading volumes. As much as 33 lakh shares of the company changed hands on the exchanges so far, already more than double the one-month daily traded average of 15 lakh shares.
10/11
Tech Mahindra and TCS | Shares of the two major IT companies were languishing in the red as global brokerage HSBC has rejiged its stance on IT stocks on the back of six factors including, uncertainty about Generative Al and GCC headwinds. It has downgraded TCS and Coforge to hold and Tech Mahindra to reduce, the recent report showed.
11/11
HEG | CMP Rs 573 | The share price of the company slipped as much as 4 percent, after rallying over 14 percent over the past week, as investors rushed to take some profits off the table. It is one of India's largest electrode manufacturers.
