Top Gainers & Losers today: Stocks that moved the most on December 23, 2024
The recovery follows a turbulent week, with the Nifty sliding 10 percent from record highs into a technical correction. Here’s a look at the top gainers and losers in trade today.
Nifty and Sensex pulled back from their highs but held onto gains on December 23, as investors took some profits off the table in the afternoon. However, heavyweights like HDFC Bank, along with strong performances from metal and realty stocks, kept the frontline indices firmly in positive territory.
2/11
India Cements (Rs 365.3, 7.7%) India Cements share price surged after the Competition Commission of India (CCI) cleared over Rs 7,000-crore deal. The CCI cleared the deal on December 20, wherein billionaire Kumar Mangalam Birla-promoted UltraTech Cement will acquire a majority stake in India Cements Ltd.
3/11
JBM Auto (Rs 1,648.05, 0.5%) Shares of JBM Auto Limited surged 5 percent to Rs 1,720 after JBM Ecolife Mobility, a subsidiary of the company, was awarded the contracts as a bus operator for procurement, operation and maintenance of 343 electric buses in Ahmedabad.
4/11
InterGlobe Aviation (Rs 4,430.8, 0.8%) Indigo shares rose after brokerage firm Elara Capital upgraded its rating on parent InterGlobe Aviation, raising it to a 'buy' from the earlier 'sell' call. The brokerage cited expectations of strong demand growth through FY28, driven by capacity expansion at major airports, launches of new airports, and the return of the P&W aircraft to IndiGo's fleet as key factors behind its upgrade.
Steel Authority of India (Rs 120.67, 3.9%) Shares of metal companies, especially steelmakers, ended percent higher after the Directorate General of Trade and Remedies (DGTR) took notice of the steel industry's request seeking a 25 percent safeguard duty on imports and began its investigation on the matter. Even though a decision on the matter is expected following the DGTR's investigation, CNBC-Awaaz reported that a safeguard duty on steel imports could potentially be imposed based on the initial findings of the inquiry, even before the final report is completed.
6/11
Sterling and Wilson Renewable Energy (Rs 468, 5.6%) Sterling and Wilson Renewable Energy shares jumped close after the company announced bagging a domestic order worth nearly Rs 1,200 crore. The company has secured an order for the Design, Engineering, Procurement, and Construction (EPC) for a 500 MW Solar project in Gujarat.
7/11
Hindustan Construction Company (Rs 40.92, -6.1%) Hindustan Construction Company Ltd (HCC) shares tumbled after the construction player announced it divested its stake in Steiner AG. HCC's stake in Steiner AG was sold so that the firm could focus on its core EPC operations in India.
8/11
New India Assurance (Rs 201.01, -6.1%) Insurance stocks were trading in the red as GST Council deferred a decision on relief for life, health insurance premiums during its meeting on December 21 since it required more time to arrive at a consensus. Presently, premiums paid on life and medical insurance largely attract a GST rate of 18%. This led to a decline in share prices of the insurance stocks.
Zomato (Rs 274.15, -2.8%) Zomato shares fell as investors booked profits after the stock's entry in the benchmark 30-stock Sensex. The stock had witnessed a bull run in the past six months as it surged close to 40 percent, giving investors more leeway to cash in partial profits.
10/11
Bharat Global Developers (Rs 1,236.45, -5%) Bharat Global Developers shares crashed after market regulator Securities & Exchange Board of India suspended trading in the stock until further orders. The regulator has also barred the company’s promoters from accessing capital markets indefinitely. The complaint noted a dramatic rise in Bharat Global Developers’ share price, which jumped 105 times between November 2023 and November 2024.
11/11
DOMS Industries (Rs 2,515, -9.6%) DOMS Industries shares extended fall to the fourth session and slipped over 8 percent lower. The selling in the counter began after its one-year lock-in for pre-IPO shareholders expired on December 18. Following the lock-in expiry, italian stationery maker FILA decided to offload a 4.57 percent stake in the company, sparking a correction in the counter since then.
