Gainers & Losers: Stocks that moved the most on November 26

Benchmark indices Nifty and Sensex ended their two-day winning streak on November 26, pressured by a lack of fresh triggers and weakness in auto, pharma, and energy stocks. Although both indices opened on a positive note, they quickly surrendered their gains as profit booking took over. The Sensex declined by 105.79 points, or 0.13 percent, to close at 80,004.06, while the Nifty slipped 27.40 points, or 0.11 percent, to settle at 24,194.50. Market breadth was positive, with 2,179 shares advancing, 1,580 shares declining, and 105 shares remaining unchanged.

Triveni Turbine | CMP: Rs 828 | Shares surged 8 percent on November 26. The strong buying action in the stock was triggered by a steep spike in trading volumes on the back of the company's robust growth prospects. As much as three crore shares of the company have changed hands on the exchanges so far, a meteoric rise from the one month daily traded average of 25 lakh shares. Volumes were also strong in the previous session when 56 lakh shares changed hands.

Sagility India | CMP: Rs 31.50| Shares surged around 10 percent as investors cheered for the company's strong performance in the July-September quarter, marked by growth across all key parameters. The company reported a 30.5 percent on year growth in its net profit to Rs 163.60 crore while revenue grew around 21 percent to Rs 1,325 crore. Meanwhile, operational performance also improved as the company's EBITDA rose 22 percent on year to Rs 337.80 crore, making up 25.5 percent of total revenue.

Vodafone Idea | CMP: Rs 7.60 | Shares were surged 9 percent after the Union Cabinet approved the waiver of bank guarantees for telecom operators. The wavier will be applied to spectrum acquired by telecom operators in auctions held before 2022, reports said. This move, aimed to reduce the financial burden on the telecom sector stands to benefit Vodafone Idea the most as it owns the government over Rs 24,700 crore on bank guarantees (BG), Moneycontrol had previously reported. Indian telecom operators, including Airtel and Vodafone Idea, collectively hold more than Rs 30,000 crore in bank guarantee obligations.

ACME Solar Holdings | CMP: Rs 256 | Shares slipped a percent on the back of a sharp decline in the company's Q2 net profit. Consolidated net profit for the July-September period dropped 60 percent on year to Rs 15.29 crore, a sharp downturn from the Rs 38.63 crore it reported in the same quarter last fiscal. The drag in net profit was mainly on account of lower revenue after the company monetised 369 MW of operational assets in the second half of the previous fiscal. These assets had contributed Rs 169 crore in revenue the first half of FY24, leading to a high base of the previous fiscal.

Defence stocks | Shares rose 2-3 percent after JPMorgan initiated coverage on Indian defence stocks foreseeing a long runway of structural growth for the sector. While the firm assigned 'overweight' calls for Bharat Electronics and Hindustan Aeronautics, industry peer Mazagon Dock Shipbuilders received a 'neutral' rating. JPMorgan also anticipates strong growth in defence production as well as exports, which make these stocks an even lucrative bet. The cherry on top being the recent stock price correction amid heavy profit booking, which according to JPMorgan, presents an opportunity to lap up defence stocks at lower valuations. To quantify, shares of Bharat Electronics, Hindustan Aeronautics, and Mazagon Dock have plummeted 14-28 percent from their record highs in recent months.

Hitachi Energy India | CMP: Rs 12,284 | Shares zoomed 5 percent after a consortium between the comoany and BHEL bagged a contract from the Power Grid Corporation of India. The consortium has been awarded the contract for the establishment of over eight hundred 6000 MW high voltage direct current (HVDC) terminal stations at Khavda Pooling Station-2 (HVDC) and Nagpur (HVDC) for the evacuation of renewable power from the Khavda region in Gujarat to Nagpur in Maharashtra.

Emcure Pharmaceuticals | CMP: Rs 1,376 | Shares rose 5 percent after Kotak Securities upgraded the counter to 'buy' from add and raised the target price suggesting that the company is poised for growth in the coming quarters. With a buy rating and price target of Rs 1,680, the domestic brokerage anticipates an upside potential of 28 percent from the previous close of Rs 1,311 on the NSE. Emcure Pharma shares have gained 7 percent in the past week.

Swiggy | CMP: Rs 470 | Shares of food delivery and quick commerce major Swiggy surged 9 percent after UBS initiated coverage on the counter with a 'buy' recommendation citing robust growth prospects for the company. With a 'buy' rating and a target price of Rs 515, the brokerage forecasts a nearly 27 percent upside from the current closing levels on the exchanges. The brokerage highlights that Swiggy is well-positioned for growth, currently trading at a 35 percent discount to Zomato.

Adani Green Energy | CMP: Rs 899 | The Adani pack, especially Adani Green Energy, fell as much as 7 percent at close. This comes after most Adani stocks saw a modest recovery on Friday, and some on Monday, following a sharp selloff on November 21 that wiped out Rs 2.2 lakh crore in market capitalization of the conglomerate. The sharp selloff stemmed from allegations by US prosecutors that Gautam Adani and other executives orchestrated a $250 million bribery scheme to secure solar contracts in India.

Raymond | CMP: Rs 1,662 | Raymond shares fell around 4 percent amid profit-booking as the apparel and real estate player's surged over 20 percent over the previous two sessions. Shares had gained after the firm got a 'no objection' letter from BSE and NSE for the demerger and listing of its realty business, Raymond Realty. This milestone comes two months after the company completed the demerger of its lifestyle business, marking another restructuring within the Raymond Group.