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Gainers & Losers: 10 stocks that moved the most on March 10

Nifty Pharma, IT, Auto and Metal indices rose a percent each, while some selling was seen in the energy names. BSE Midcap and Smallcap indices ended higher.

March 10, 2021 / 04:55 PM IST
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Benchmark indices ended higher for the third session in a row with Nifty settling above 15,150, supported by the IT, metal, and pharma counters. At close, the Sensex was up 254.03 points or 0.50% at 51,279.51, and the Nifty was up 76.40 points or 0.51% at 15,174.80. Nifty Pharma, IT, Auto and Metal indices rose a percent each, while some selling was seen in the energy names. BSE Midcap and Smallcap indices ended higher. On the BSE, IT, Healthcare, Capital Goods and Metal indices rose 1 percent each. On the contrary, some selling was witnessed in the Oil & Gas pack. A volume spike of more than 100 percent was seen in L&T Infotech, Biocon and BHEL.
Magma Fincorp | CMP: Rs 134.75 | The stock jumped over 4 percent after the company's shareholders approved the company's fundraising plan. The company plans to raise up to Rs 3,456 crore by issuing preference equity shares to Rising Sun, a company controlled by Adar Poonawalla and two members of the promoter group. The company' shareholders at the extraordinary general meeting approved with requisite majority, preferential allotment of 49,37,14,286 equity shares of face value Rs 2 each of the company at an issue price of Rs 70 per equity share aggregating up to Rs 3,456 crore, to Rising Sun Holdings Private Limited and existing Promoters, Sanjay Chamria and Mayank Poddar, the company said in its release.
Welspun Enterprises | CMP: Rs 121.80 | The share price was down over 2 percent on March 10. The company's joint venture with Kaveri Infraprojects bagged a water supply project worth Rs 2,500 crore. The JV is empanelled by the UP State Water and Sanitation Mission, Namami Gange and Rural Water Supply Department (SWSM) for the execution of EPC Projects of the survey, design, preparation of DPR, construction, commissioning and operation and maintenance for 10 years of rural water supply. The estimated aggregate contract value of the projects is Rs 2,500 crore (excluding O&M value and GST).
Quick Heal Technologies | CMP: Rs 209.35 | The stock jumped over 14 percent after the company's board approved the proposal to buyback up to 63,26,530 equity shares of the company, being 9.85% of the total paid up equity share capital, for an aggregate amount not exceeding Rs 1,550 million at Rs 245 per equity share.
Indian Energy Exchange | CMP: Rs 307.50 | The scrip added 2 percent after the company divested its holding in Indian Gas Exchange (IGX). "The company announced strategic divestment of 26 percent of its equity holding in the Indian Gas Exchange (IGX) to National Stock Exchange of India Limited (NSE) through its wholly-owned subsidiary, NSE Investments Ltd, and additional 5 percent equity holding to Oil and Natural Gas Corporation," as per the press release.
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IndusInd Bank | CMP: Rs 1,041.90 | The stock ended in the green after global research firm CLSA maintained a buy call on the stock and raised the target to Rs 1,325 from Rs 1,100 per share earlier. CLSA is of the view that the private bank has reported a transformative journey in the last two years and has been debulking corporate book and increasing granularity of liabilities. The research firm feels that the COVID-19 asset quality hit has been less than expected adding that CV, MFI and gems portfolio has held up better than expected while the liability side remains a work-in-progress.
JSW Steel | CMP: Rs 413.80 | The stock gained 3 percent after ICRA reaffirmed JSW Steel’s long-term (bank facilities and non-convertible debenture) rating at ICRA AA- but changed the outlook from stable to positive, the company informed bourses. The rating agency also reaffirmed the company's short-term (bank facilities and commercial paper) to ICRA A+, the company added.
Sun Pharmaceutical Industries | CMP: Rs 624.35 | The stock added 2 percent after its subsidiary acquired stake in WRS Bioproducts. The company's subsidiary has acquired 4,28,571 ordinary shares (equivalent to 12.5 percent fully diluted equity stake) of WRS Bioproducts Pty Ltd by making the payment of AUD 2.0 million and complying with all requirements.
Lupin | CMP: Rs 1,056.25 | The scrip added 2 percent after the company launched authorized generic version of Alinia (nitazoxanide) Tablets, 500 mg of Romark Laboratories, L.C. Nitazoxanide Tablets, 500 mg, are indicated in the treatment of diarrhea caused by Giardia lamblia or Cryptosporidium parvum in patients 12 years of age and older, company said in the press release.
HUDCO | CMP: Rs 51 | The share price jumped over 6 percent after Fitch Ratings affirmed Housing and Urban Development Corporation Ltd’s long-term foreign and local-currency issuer default ratings at BBB-. The outlook on the PSU was negative, reflecting the outlook on the India sovereign rating (BBB-/Negative), Housing and Urban Development Corporation Ltd said in a regulatory filing.
Max Healthcare | CMP: Rs 203.05 | The stock added 2 percent on March 10. The board of directors approved the allotment of 6,14,12,482 shares of face value Rs 10 each to eligible qualified institutional buyers at an issue price of Rs 195.40 per share, at a premium of Rs 185.40 per share. The total value of the QIP is estimated at around Rs 1,200 crore.
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Power Finance Corporation | CMP: Rs 134.75 | The stock was up over a percent on March 10. The state-owned company has identified March 22 as the record date to ascertain the eligibility of shareholders for the payment of interim dividend for FY21, it said in a regulatory filing. The company’s board will decide on the dividend during a meeting on March 12.
Sandip Das
first published: Mar 10, 2021 04:55 pm