Gainers & Losers: Key Stock Movements on August 26

On August 26, the Indian stock market concluded the day on a robust note, buoyed by gains in metal and IT stocks. The positive sentiment was driven by the US Federal Reserve’s recent commentary suggesting that a policy adjustment, including a possible interest rate cut, could be forthcoming as early as next month.

Top Gainers of the Day

1. Emcure Pharmaceuticals | CMP: ₹1,412 | +2%

Shares of Emcure Pharmaceuticals surged after the Namita Thapar-backed drugmaker received its first ‘buy’ rating since its market debut over a month ago. Global brokerage Jefferies assigned a price target of ₹1,600, indicating a potential upside of 15% from Friday’s closing price.

2. KEC International | CMP: ₹851 | +9%

KEC International shares jumped 9% after the company secured new orders worth ₹1,079 crore in its transmission & distribution (T&D) and cables businesses. The new orders include significant projects in India, Saudi Arabia, and Oman.

3. Honasa Consumer | CMP: ₹506 | +14%

Shares of Honasa Consumer, the parent company of Mamaearth, The Derma Co, and BBlunt, surged around 14% to an all-time high after NCLT, Chandigarh approved the amalgamation scheme between Just4Kids Services Private Limited, Fusion Cosmeceutics Private Limited, and Honasa Consumer.

4. Shilpa Medicare | CMP: ₹735 | +8%

Shilpa Medicare’s stock surged 8% intraday following the successful outcome of Phase 3 studies for its drug SMLNUD07 (NorUDCA), which treats Nonalcoholic Fatty Liver Disease (NAFLD). Positive clinical trial results boosted investor confidence, driving the stock price higher.

5. Mangalam Drugs | CMP: ₹141 | +8%

Mangalam Drugs and Organics saw its share price jump 8% to a fresh 52-week high after being awarded a grant of $274,800 by The Medicines for Malaria Venture (MMV) for the research and development of Pyronaridine, an antimalarial drug.

6. Max Estates | CMP: ₹687 | +6%

Max Estates shares jumped over 6% after receiving approval from Noida authorities to develop the ‘Delhi One’ project on a 34,697-square-meter land parcel in Sector 16B, Noida. This project adds 2.6 million square feet of development potential to the company’s portfolio.

Top Losers of the Day

1. MedPlus Health Services | CMP: ₹638.5 | -3%

MedPlus Health Services shares slipped 3% after a large deal worth ₹950 crore occurred on the exchanges. Around 1.50 crore shares, representing a 12.8% stake in the company, changed hands at a floor price of ₹616 per share, leading to a drop in the stock’s price.

2. Transport Corporation of India | CMP: ₹1,102 | -6%

Transport Corporation of India shares fell over 6% due to profit booking after the stock hit an all-time high on Thursday. The drop followed the company’s announcement of its first-ever share buyback proposal worth ₹159 crore.

3. Apollo Hospitals | CMP: ₹6,780 | -1%

Apollo Hospitals shares declined by over 1% after Japanese brokerage Nomura downgraded the stock to ‘neutral’ from ‘buy’. Nomura cited concerns over the company’s digital segment and premium valuations relative to its peers.

4. Zydus Lifesciences | CMP: ₹1,109 | -6%

Zydus Lifesciences shares were under pressure, with losses as high as 6%, following the company’s announcement of acquiring a 50% stake in Sterling Biotech for ₹550 crore. The market reacted negatively to the acquisition news.

By tracking these key stock movements, investors can stay informed about market trends and make strategic decisions. The diverse performance across sectors underscores the importance of careful stock selection and timing in the current market environment.