Gainers & Losers: 10 stocks that moved the most on January 11
Among sectors, IT index rose 3 percent, Auto index added 2.6 percent and FMCG and Pharma indices rose 1 percent each, while metal and PSU Bank indices shed 1 percent each.
Benchmark indices ended at fresh record closing highs with Nifty ending just shy of 14500. At close, the Sensex was up 486.81 points or 1% at 49,269.32, and the Nifty was up 137.50 points or 0.96% at 14,484.80. Here are 10 stocks that moved the most on January 11:
Tata Consultancy Services | CMP: Rs 3,170.45 | The stock ended in the green after the largest IT services exporter in India reported a consolidated net profit of Rs 8,701 crore for the quarter ended December 2020, rising 7.2 percent sequentially, backed by strong demand-led revenue growth. Consolidated revenue for the quarter increased 4.7 percent sequentially to Rs 42,015 crore and the year-on-year increase was 5.4 percent for the quarter.
Bharti Airtel | CMP: Rs 546.20 | The stock price was up over a percent after the telecom major received almost all regulatory approvals required to raise foreign direct investment (FDI) in its downstream companies. According to sources, Bharti Airtel has got approval to raise FDI in its payments bank from the Reserve Bank of India (RBI) and the Foreign Investment Promotion Board (FIFB), the nodal agency. The company in an exchange filing said that it has appointed Pradipt Kapoor as its Chief Information Officer (CIO).
GNA Axles | CMP: Rs 349 | The stock jumped 8 percent after consolidated net profit of the company came in at Rs 26.6 crore against Rs 7.6 crore (YoY). Consolidated revenue was up 28.9 percent at Rs 276 crore against Rs 214.1 crore (YoY). Consolidated EBITDA at Rs 48.1 crore against Rs 24 crore (YoY). Consolidated EBITDA margin at 17.4 percent against 11.2 percent (YoY).
TVS Motor | CMP: Rs 521.85 | The stock price ended in the green on January 11. LIC raised stake in the company to 6.46 percent in Q3 from 4.87 percent in Q2. Also, FPIs raised stake to 11.15 percent in Q3 from 10.64 percent in Q2.
J.Kumar Infraprojects | CMP: Rs 149.40 | The share price was up over 3 percent after the company received Letter of Acceptance (LoA) from Gujarat Metro Rail Corporation (GMRC) for "Design, construction and completion of Underground stations and tunnel from Surat Railway station to Chowk Bazar Ramp worth of Rs 8,66,00,00,000 and USD 1,03,11,647.
Reliance Infrastructure | CMP: Rs 30.90 | The share jumped 5 percent after the company completed the sale of its entire 74 percent stake in Parbati Koldam Transmission Company Limited to India Grid Trust for Rs 900 crore. The proceeds will be used for debt reduction, and the company's dues will come down by 6 percent to Rs 13,100 crore.
Tata Steel | CMP: Rs 695 | The share shed over 2 percent on January 11. The company's total output from India operations rose 3 percent to 4.60 million tonnes during the October-December quarter. Output from the company's operations in India was at 4.47 mt in the year-ago period. However, its sales from India operations during the period under review were at 4.66 mt, down 4 percent.
Vedanta | CMP: Rs 179.40 | The stock ended in the red on January 11. The promoters of the company announced an open offer for up to 37.2 crore shares of the company at Rs 160 per share, which amounts to 12 percent discount to current market price. The current open offer represents 10 percent equity stake in the company.
Ujaas Energy | CMP: Rs 4 | The share was up over 3 percent after Alpha Leon Enterprises LLP picked up a stake in the company. According to bulk deal data on NSE, Alpha Leon Enterprises LLP bought 13,51,280 equity shares in the company at Rs 3.85 apiece.
Bodal Chemicals | CMP: Rs 76.35 | The stock was down over 4 percent after the NCLT approved the Scheme of Amalgamation of subsidiary Trion Chemicals with itself.