Gainers & LosersStock Market

Gainers & Losers: Key Stock Movements on August 23

Indian Markets Close Slightly Higher Ahead of Fed Chair Jerome Powell’s Speech

On August 23, the Indian stock market ended the week on a cautious note, with both the Nifty and Sensex showing modest gains. Investors remained on edge, awaiting the commentary from US Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium, which could provide hints of a potential interest rate cut in September.

The Sensex gained 95 points (0.1%) to close at 81,148, while the Nifty edged up by 22 points to settle at 24,833.


Top Gainers of the Day

1. PCBL | CMP: ₹498.8 | +11%

Shares of specialty chemicals firm PCBL surged nearly 11% to reach a fresh record high. The rally was driven by the company’s investor presentation, which highlighted significant growth opportunities in India’s rubber black industry due to favorable global conditions.

2. Power Mech Projects | CMP: ₹6,905 | +8%

Power Mech Projects shares zoomed over 8% following the board’s announcement of a bonus issue in the ratio of 1:1. This means shareholders will receive one free share for every fully paid-up equity share, pending approval at the upcoming 25th AGM.

3. RailTel Corporation of India | CMP: ₹499 | +6%

RailTel Corporation shares rose nearly 6% after the company secured a work order worth ₹52.66 crore from the Uttar Pradesh Police Recruitment and Promotion Board, boosting investor confidence.

4. FSN E-Commerce (Nykaa) | CMP: ₹227 | +8%

Shares of FSN E-Commerce, the parent company of Nykaa, surged nearly 8% after around 4.09 crore shares, representing a 1.43% stake, changed hands in a block deal. The likely seller was pre-IPO investor Harindarpal Singh Banga.

5. Bajaj Auto | CMP: ₹10,384.5 | +5%

Bajaj Auto shares surged nearly 5% after the company reported an increase in its market share for two-wheeler electric vehicles (EVs). This gain comes as newly listed competitor Ola Electric saw a decrease in its market share.

6. SEPC | CMP: ₹25.4 | +18%

SEPC shares soared by nearly 18% after the company received the Final Acceptance Certificate from The Hutti Gold Mines Ltd (HGML) for a contract valued at ₹232 crore, indicating a significant achievement for the company.

7. Jain Irrigation Systems | CMP: ₹74 | +11%

Jain Irrigation Systems shares jumped 11% following the signing of a Memorandum of Understanding (MoU) with the Coffee Board of India. The MoU aims to commercialize advanced, high-quality, disease-resistant coffee plants for growers.

8. TVS Motor Company | CMP: ₹2,565.4 | +2%

TVS Motor Company shares rose over 2% after UBS maintained its ‘Buy’ recommendation on the stock and increased the target price to ₹3,200 from ₹3,000, following the launch of the new Jupiter 110 scooter.


Top Losers of the Day

1. Reliance Power | CMP: ₹34.5 | -5%

Reliance Power shares fell 5% after market regulator SEBI banned promoter Anil Ambani from the securities market for five years. The ban, which also affected 24 other entities including former officials of Reliance Home Finance, was imposed for allegedly diverting company funds.

2. Nifty Realty Index | -2.4%

The Nifty Realty index was the worst-performing sectoral index, dropping 2.4%. Key stocks dragging the index down included Lodha, Phoenix, and Prestige Estates. However, Sunteck Realty stood out as an outlier, gaining over 3%.


By analyzing these key stock movements, investors can gain insights into current market trends and potential investment opportunities. Stay updated with the latest developments in the stock market to make informed decisions.


Visit our website daily for latest tech news. Follow Us on Instagram for awesome tech stuff. Also, Join our Telegram Group and connect directly with Admin.
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button