Last Updated : Aug 28, 2020 04:41 PM IST | Source: Moneycontrol.com
Gainers & Losers: 10 stocks that moved the most on August 28
Among sectors, the banking index jumped 4 percent while the midcap index added half a percent. Nifty Auto shed over half a percent and the metal index ended in the red.
Sensex jumped 353.84 points or 0.9 percent at 39,467.31 on August 28 and the Nifty gained 88.30 points or 0.76 percent at 11,647.60. IndusInd Bank, Axis Bank, ICICI Bank, State Bank of India were the top gainers while Reliance Industries, HDFC Bank, HDFC, Kotak Mahindra Bank and ICICI Bank supported the rally.
ICICI Bank | CMP: Rs 409.45 | The stock jumped over 4 percent after the bank said it had sold 6,442,000 shares or 2 percent stake of ICICI Securities for Rs 310 crore via open market transaction. After the share divestment, ICICI Bank holds 77.22 percent stake as of June quarter in ICICI Securities. This sale was to meet SEBI guidelines of 25 percent minimum public shareholding requirement, the lender said in a notice to BSE.
Phoenix Mills | CMP: Rs 651.25 | The share price gained a percent after global brokerage firm CLSA maintained buy on the stock and raised target price by 6.5 percent. CLSA maintained buy call on the stock, raising the target price to Rs 790 from Rs 742. As per CNBC-TV18, CLSA said the equity raise of Rs 1,100 crore in this environment is testimony to a strong asset portfolio.
NMDC | CMP: Rs 107.35 | The share surged over 11 percent after the board approved the proposal to demerge its NMDC Iron & Steel Plant in Nagarnar, Chhattisgarh.
Max India | CMP: Rs 76 | The stock was down 5 percent on the day of its relisting. The stock debuted at Rs 80 on BSE but fell 5 percent soon to touch its lower price band at Rs 76. Max India resumed trading on BSE and NSE on August 28. The company, earlier known as Advaita Allied Health Services Limited, is a part of the $3 billion Max Group.
Future Enterprises | CMP: Rs 20.10 |The share price jumped 5 percent media reports said that the company is all set to finalise the sale of the group's retail business to Mukesh Ambani-led Reliance Industries Ltd's retail arm on August 29. The deal, reportedly in the works for months now, has been valued at about Rs 29,000- Rs 30,000 crore, according to various media reports.
HCC | CMP Rs 6.30 | The stock shed 6 percent after the company reported a consolidated net loss of Rs 406.26 crore for the quarter ended June 30, 2020. The company reported a net profit of Rs 99.74 crore in the corresponding quarter of 2019-20, it said in a filing to the BSE. The firm's total expenses declined to Rs 1,989.60 crore against Rs 2,703.55 crore a year ago.
Wockhardt | CMP: Rs 328.50 | The share price ended in the green after CARE ratings upgraded long-term bank facilities worth Rs 700 crore of the company to “BBB- Stable" from “BB+; under credit watch with positive implications". The ratings agency has also upgraded short-term bank facilities (non-fund based) worth Rs 307.80 crore to “A3" from “A4+; Under credit watch with positive implications".
Indian Oil Corporation | CMP: Rs 87.90 | The stock price gained a percent after the company said it is investing Rs 14,800 crore in expanding the capacity of its Barauni refinery in Bihar as part of over 2,800 projects being executed under the Aatmanirbhar Bharat campaign to boost domestic manufacturing and create jobs.
Thejo Engineering | CMP: Rs 717.70 | The share price jumped 5 percent after Porinju Veliyath-owned Equity Intelligence India bought 50,000 shares of Thejo Engineering at an average price of Rs 675.11.
Edelweiss Financial Services | The stock ended in the green on reports of private equity investor PAG making a Rs 2,200 crore investment in Edelweiss Wealth Management (EWM) fo a 51 percent stake in the wealth management business of Edelweiss group.
