Gainers & Losers: Stocks that moved the most on August 26
The momentum in the markets streams from US Fed's commentary that it is time for policy adjustment and an interest cut may be on the cards as early as next month.
Benchmark indices Nifty and Sensex ended the day on a robust note on August 26 after metal and IT stocks significantly contributed to the upbeat sentiment. The momentum streams from US Fed's commentary that it is time for policy adjustment and an interest cut may be on the cards as early as next month.
2/11
Emcure Pharmaceuticals | CMP: Rs 1,412 | Shares rose 2.3 percent after the Namita Thapar-backed drugmaker bagged its first 'buy' tag since its market debut more than a month ago. Global brokerage Jefferies has assigned a price target of Rs 1,600, which implies a potential upside of 15 percent from Friday's closing price.
3/11
KEC International | CMP: Rs 851 | Shares jumped nine percent after the company bagged new orders valued at Rs 1,079 crore in its transmission & distribution (T&D) and cables businesses.The new orders for the T&D segment include: A 765 kV/400 kV transmission line project from a prominent private developer in India. 230/132 kV transmission line projects in Saudi Arabia and Oman.
4/11
Honasa Consumer | CMP: Rs 506 | Shares of Mamaearth, The Derma Co, and BBlunt parent surged around 14 percent to hit an all-time high after NCLT, Chandigarh approved the scheme of amalgamation between Just4Kids Services Private Limited, Fusion Cosmeceutics Private Limited, and Honasa Consumer.
MedPlus Health Services | CMP: Rs 638.5 | Shares of Medplus Health Services slipped 3 percent after a large deal worth Rs 950 crore took place on the exchanges. As much as 1.50 crore shares, representing a 12.8 percent stake of the company changed hands at a floor price of Rs 616 apiece. Following the deal, shares of Medplus Health Services slipped to the day's low of Rs 616 on the NSE. The large deal also triggered a spike in volumes in the counter as two crore shares changed hands on the bourses, a meteoric rise from the one month daily traded average of two lakh shares.
6/11
Transport Corporation of India | CMP: Rs 1,102 | Shares of Transport Corporation fell over 6 percent due to profit booking after the stock hit an all-time high on Thursday, following the company's announcement of its first-ever buyback proposal. The board of directors of the industry-specific logistics solutions company met on August 24 to consider a buyback of its equity shares. The company board approved a share buyback of up to Rs 159 crore. The company has never issued bonus shares or split its stock, but it has paid dividends to its shareholders.
7/11
Shilpa Medicare | CMP: Rs 735 | The stock surged by 8 percent intraday following the company’s announcement of a successful outcome in Phase 3 studies for SMLNUD07, a drug known as NorUDCA. This medication is designed to treat patients with Nonalcoholic Fatty Liver Disease (NAFLD). The positive results from these advanced clinical trials boosted investor confidence, leading to a notable increase in the company's stock price.
8/11
Apollo Hospitals | CMP: Rs 6,780 | Shares fell over one percent in trade after Japanese brokerage Nomura downgraded the stock to neutral, from buy. Nomura said Apollo Hospitals' digital segment is underwhelming and its valuations are at a premium to its industry peers. There also is a limited room for the firm to expand capacity in existing hospitals.
Mangalam Drugs | CMP: Rs 141 | Small-cap pharma player Mangalam Drugs and Organics saw its share price jump 8 percent to a fresh 52-week high on August 26 after the firm was awarded a grant by The Medicines for Malaria Venture (MMV). The grant award by MMV amounts to $274,800 and is designated for the research and development of Pyronaridine, an antimalarial drug.
10/11
Zydus Lifesciences | CMP: Rs 1,109 | Zydus Lifesciences share price traded under pressure in Monday's trading session with losses as high as 6 percent after the company announced buying a 50 percent stake in Sterling Biotech from existing owner Perfect Day for Rs 550 crore.
11/11
Max Estates | CMP: Rs 687 | Shares jumped over six percent after the company received approval from the Noida authorities to develop a project. The Noida authorities granted approval for the development of the 'Delhi One' project on a land parcel measuring 34,697 square meters, located in Sector 16B, Noida. This project adds 2.6 million sqaure feet of development potential to the portfolio of Max Estates.
