Gainers & LosersStock Market

Gainers & Losers: Key Stock Movements on August 28

A strong rally in IT and healthcare stocks propelled the Nifty 50 to its tenth consecutive session of gains on August 28, while the Sensex also edged up slightly. This positive trend is attributed to several factors, including Foreign Institutional Investors (FIIs) turning net buyers and expectations of a potential US Fed rate cut next month.

By the close, the Sensex had risen by 67.50 points or 0.08 percent to 81,779.26, and the Nifty climbed 27.50 points or 0.11 percent to 25,045.30. The market saw 1,726 stocks advance, 2,049 decline, and 85 remain unchanged.


Top Gainers of the Day

LTIMindtree | CMP: ₹6,114.60

LTIMindtree shares rose over 6 percent after Kotak Institutional Equities upgraded the stock. This increase also follows the Karnataka High Court’s stay on a ₹378-crore tax order against the company for alleged non-payment of integrated goods and services tax.

Insecticides India | CMP: ₹1,015

Shares of Insecticides India surged 9 percent following strong earnings results for the April-June quarter. The company reported a 68 percent increase in net profit year-on-year to ₹49 crore, while revenue grew 3 percent year-on-year to ₹657 crore. The premiumisation of products also helped expand EBITDA margins significantly.

GMM Pfaudler | CMP: ₹1,402.85

GMM Pfaudler shares surged 3.5 percent after a block deal involving shares worth ₹557.3 crore took place on the exchanges. Approximately 41.2 lakh shares, representing a 9.2 percent stake in the company, changed hands at a floor price of ₹1,352 per share.

IndusInd Bank | CMP: ₹1,409

IndusInd Bank shares rose 2 percent after CLSA reiterated an ‘Outperform’ rating and set a target price of ₹1,800, noting a potential upside of 28 percent. Analysts believe the bank is well-positioned to benefit from interest rate reductions and favorable asset quality.

DCX Systems | CMP: ₹345.90

DCX Systems shares rallied 5 percent after securing a ₹187 crore order from an overseas customer for electronic kits. The order is expected to be executed within 12 months, following a previous order worth ₹107 crore for similar supplies.

NBCC India | CMP: ₹195

NBCC India shares jumped nearly 10 percent after the company announced plans to consider a bonus issue of shares. The board will discuss the proposal at its upcoming meeting on August 31, marking the second instance of a bonus issue since February 2017.

Trent | CMP: ₹7,215

Trent shares climbed 5 percent, breaking a three-day losing streak, after Bernstein initiated coverage with an ‘Outperform’ rating and set a target price of ₹8,100. The firm covered seven retail and restaurant sector stocks, with four receiving ‘Outperform’ ratings.

Agro Tech Foods | CMP: ₹872

Agro Tech Foods saw its shares jump over 6 percent after the company announced that Conagra Brands, a leading food company, is no longer part of the promoter entity. However, Agro Tech Foods retains a perpetual license in India for the ACT II brand.


Top Losers of the Day

Tata Elxsi | CMP: ₹8,180

Tata Elxsi shares fell nearly 9 percent as Kotak Securities reiterated a ‘sell’ call on the stock, citing expensive valuations. The stock, trading at 61 times one-year forward earnings, was seen as overvalued according to the brokerage.

Tata Investment Corp | CMP: ₹7,197

Tata Investment Corp shares slipped nearly 3 percent due to profit booking after strong gains in the previous session. The stock was also placed under the long-term ASM (Additional Surveillance Measure) framework by the BSE and NSE, with the exchanges seeking clarification on share volume movements.


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