Gainers & losers: Stocks that moved the most on June 7
Extending gains to the third session, benchmark indices- the Sensex and the Nifty 50 have sprung back to pre-poll levels. All sectors also settled in the green.
Sensex and Nifty extended their early gains and ended the session near their record highs on June 7 after the Reserve Bank of India's policy-setting committee raised India's FY25 real GDP forecast to 7.2 percent from the earlier 7 percent. This, coupled with the confirmation of a return of Modi for a third straight tenure as the leader of the NDA also aided sentiment. Extending gains to the third straight session, benchmark indices are now to their pre-poll levels. At close, the Sensex was up 1,618.85 points or 2.16 percent at 76,693.36, and the Nifty was up 468.80 points or 2.05 percent at 23,290.20.
2/12
Dixon Technologies | CMP: Rs 9,994.05 | Shares closed over 2 percent higher post hitting a fresh record high after the company informed that it inked a term sheet to form a joint venture (JV) with HKC Corporation. It became five-digit stock as the share price crossed Rs 10,000 mark after the latest surge.
3/12
Mastek | CMP: Rs 2,786 | Shares of the company closed over 8 percent higher after the Sunil Singhania-backed company announced that its cloud-native platform icxPro has partnered with NVIDIA AI Enterprise to boost CX (Customer Experience) management for different sectors.
4/12
Paytm | CMP: Rs 381.30 | Shares of the fintech firm zoomed 10 percent after the circuit filter for the stock was revised upwards to 10 percent from 5 percent earlier. The stock also rallied as company said it is seeing early signs of recovery and strong stabilisation for its UPI business.
InterGlobe Aviation | CMP: Rs 4,374.70 | Kotak Institutional Equities raised its price target on IndiGo parent InterGlobe Aviation while foreseeing a 33 percent upside from current levels. Shares of the IndiGo parent rose around two percent.
6/12
Garden Reach Shipbuilders & Engineers | CMP: Rs 1,345 | Shares closed 3.61 percent higher after the company emerged as the lowest bidder for a Defence Research and Development Organisation (DRDO) contract. The contract, worth around Rs 500 crore encompasses building research vessel for the DRDO. However, GRSE is yet to bag the order as the contract is currently under negotiation and has not yet been signed.
7/12
IRB Infra | CMP: Rs 77.90 | Shares settled around 11 percent higher after the company reported a spike in toll collections in May. The company's toll collections in May rose 30 percent on year to Rs 536 crore. Brokerage firm CLSA also named IRB Infra as one of the key beneficiaries of the return of the Modi government to power and its subsequent push on infra capex.
8/12
RVNL | CMP: Rs 374.95 | The stock ended with 2 percent gains after the company secured an order worth Rs 495 crore from National Thermal Power Corporation (NTPC). Under the terms of contract, RVNL will be responsible for execution of balance civil & HM works of barrage complex including part HRT package of Rammam hydro electric project stage-III.
Bajaj Finance | CMP: Rs 7,175 | Shares of Bajaj Finance gained around 4 percent after the board the board approved sale of Rs 3,000 crore shares in Bajaj Housing initial public offering (IPO). Meanwhile, Bajaj Housing Finance IPO will raise around Rs 4,000 crore via fresh issue and offer-for-sale component separately.
10/12
SBI Life | CMP: Rs 1,427.95 | Shares fell nearly two percent while the stock witnessed a build of fresh short positions, and open interest on the counter increased 1.97 percent.
11/12
Tata Chemicals | CMP: Rs 1,060.75 | Shares fell after the company's subsidiary Tata Chemicals Europe was fined £1.1 million by the Chester Crown Court in the United Kingdom. The fine is related to a safety incident that occurred back in 2016 resulting in the injury and subsequent unexpected death of a contractor. Morgan Stanley downgraded the stock an 'underweight' and slashed its price target for the stock by around 7 percent to Rs 843.
12/12
TCPL | CMP: Rs 1,135 | After rising around seven percent over the past three sessions, FMCG player Tata Consumer Products slipped 0.5 percent in trade as investors took some off their profit off their table.
