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Gainers & Losers: 10 stocks that moved the most on December 7
On the sectoral front, the PSU bank index rose 2 percent, while pharma, infra and FMCG indices added a percent each.
1/11
The Indian indices continued their upward momentum and closed at fresh highs on December 7, supported by the financials, pharma and FMCG stocks. At close, the BSE Sensex was up 347.42 points, or 0.77%, at 45426.97 and the Nifty was up 97.30 points, or 0.73%, at 13355.80.
2/11
Goodyear India | CMP: Rs 1,000 | The stock surged 14 percent after the Board of Directors at a meeting declared an interim dividend of Rs 80 per equity share of face value of Rs 10 each for the financial year 2020-21. The dividend shall be paid within the statutory time limit and the record date for determining the entitlement of the members has been fixed as December 15, 2020, it said.
3/11
ADF Foods | CMP: Rs 607 | The share price jumped over 15 percent after Infinity Holdings acquired another 4 lakh shares in the company at Rs 501.2 per share on the NSE. Also, private equity firm Convergent Finance bought a 10 percent stake in ethnic Indian packaged food-maker for Rs 100 crore, picking up shares from existing shareholders of the company.
4/11
Adani Ports | CMP: Rs 470 | The stock was up more than 3 percent, hitting a new 52-week high after brokerages raised the target. CLSA maintained a 'buy' and raised the target price to Rs 540 from Rs 425. Jefferies has also had a 'buy' call, with the target price raised to Rs 525 from Rs 475 per share. Nomura retained 'buy' and raised the target price to Rs 530 per share.
5/11
ONGC | CMP: Rs 92.60 | The share gained 3 percent after the company's subsidiary ONGC Videsh made a 'significant' strike in Colombia. This is the fourth commercial find in the block by OVL. ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made a “significant” oil discovery in an onshore block in the South American country.
6/11
Force Motors | CMP: Rs 1,513.80 | The stock price zoomed 20 percent on December 7. Total vehicle exports jumped 70.45 percent to 300 units in November 2020 as against 176 units in the year-ago period. The company reported over a three-fold jump in consolidated net profit at Rs 14.05 crore in the second quarter ended September.
7/11
Tata Chemicals | CMP: Rs 510 | The stock added over 3 percent on December 7. Promoter Tata Sons on December 4 purchased more than 25 lakh scrips of the company worth over Rs 121 crore via open market transaction. According to the bulk deal data available on NSE, Tata Sons bought a total of 25,71,651 shares of at an average price of Rs 471.88.
8/11
Larsen & Toubro | CMP: Rs 1,169.55 | The stock ended in the green after its construction and mining equipment business secured multiple orders for supply of 90 units of Komatsu Mining Equipment from Coal India subsidiaries, leading infra companies engaged with the coal sector and customers from the cement and iron ore sectors.
9/11
HDFC Bank | The share price ended in the red after global rating agency Moody’s said that multiple digital outages reported by the private lender were credit negative. The regulators' action was in response to the weaknesses in HDFC Bank's digital infrastructure and operational resilience and was credit negative because the bank was increasingly relying on digital channels to source and service its customers, Moody’s said.
10/11
Ashoka Buildcon | CMP: Rs 96.30 | The stock jumped over 11 percent after it was reported that private equity major Actis Llp was in talks to acquire highways infrastructure firm Ashoka Concessions Ltd in a potential deal having an enterprise value of around $1.2 billion.
11/11
Reliance Communications | CMP: Rs 1.85 | The stock gained over 8 percent after the National Company Law Tribunal (NCLT) approved a resolution plan for Reliance Infratel submitted by a group entity of Reliance Industries, according to a regulatory filing. The resolution plan was approved by 100 percent votes of the committee of creditors.
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