Gainers & Losers: 10 stocks that moved the most on June 18
On the sectoral front, the Nifty Bank jumped 3.7 percent, Metal Index added 3 percent and Nifty Energy index gained 2 percent. BSE Midcap and Smallcap indices rose 1 percent each.
Benchmark indices rallied 2 percent each on June 18 with Nifty closing above 10,000-mark supported by the banking and metal stocks. At close, the Sensex was up 700.13 points or 2.09% at 34,208.05, and the Nifty was up 210.55 points or 2.13% at 10,091.70. About 1,867 shares advanced, 706 shares declined, and 133 shares were unchanged. Here are the top 10 stocks that moved the most today:
2/11
Coal India | CMP: Rs 137.65 | The stock price jumped over 6 percent after Prime Minister Narendra Modi on June 18 launched the auction process for 41 coal blocks for commercial mining. The government's move will open India's coal sector for private players and termed it a major step in the direction of India achieving self-reliance. As per a PTI report, the Prime Minister said the launch of the auction process not only marks the beginning of unlocking of the country's coal sector from the “lockdown of decades”, but aims at making India the largest exporter of coal.
3/11
Muthoot Finance | CMP: Rs 1,160.30 | Share price jumped over 16 percent after the company posted a better-than-expected set of March quarter numbers on June 17. The company reported a 52.4 percent jump in consolidated net profit at Rs 835.78 crore in the last quarter of the fiscal ended March 2020 due to higher demand for gold loans. The company had posted a net profit of Rs 548.56 crore during the corresponding January-March quarter of fiscal ended March 2019.
4/11
Indraprastha Gas | CMP: Rs 449.35 | Shares fell over 5 percent after the company reported a 27.5 percent jump in its consolidated net profit at Rs 290.76 crore versus Rs 228 crore in the year-ago period, while revenue was up at Rs 1,711.2 crore versus Rs 1,701 crore. Macquarie has a downgrade rating on the stock with target at Rs 485. According to the firm, the stock is now fully valued and it doesn’t see much impact on the company’s long-term growth outlook, reported CNBC-TV18.
Telecom stocks: Stock price of telecom companies gained up to 20 percent after the Supreme Court hearing in the AGR case. ITI and Vindhya Telelink surged almost 20 percent while MTNL, HFCL and Tejas Networks were the other gainers. Shares of Bharti Airtel and Vodafone Idea however ended in the red, down over half a percent each.
6/11
Pidilite Industries | CMP: Rs 1,394 | Stock price was down over 2 percent after the company reported a nearly 34 percent year-on-year (YoY) decline in its consolidated net profit to Rs 156.51 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 236.87 crore for the January-March period of 2018-19. Its revenue from operations declined to Rs 1,544.68 crore for the fourth quarter as compared with Rs 1,639.28 crore in the same period of 2018-19, Pidilite Industries said in a regulatory filing.
7/11
Manappuram Finance | CMP: Rs 148.80 | The stock price was up over 4 percent after the company approved the issue of NCDs worth Rs 350 crore. Financial Resources and Management Committee of the board of directors of the company approved the issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures having face value of Rs 10 lakh each for the amount of Rs 25 crore with an option to retain oversubscription up to Rs 325 crore aggregating to Rs 350 crore, the company said in the release.
8/11
BEML | CMP: Rs 622.50 | The share price gained over 4 percent after the state-owned entity flagged off its last train set for Kolkata Metro (East-West) Project. BEML had secured the contract for 14 train sets (6 cars each), valued at approximately Rs 900 crore from Kolkata Metro Rail Corporation (KMRC). The company said it had independently completed the design, manufacturing activities and the delivery of the prototype train set was done during March 2018, which was subjected to extensive testing and trials on KMRC mainline including statutory testing by RDSO & CRS and cleared all the tests.
Kopran | CMP: Rs 39.95 | The scrip jumped over 7 percent after the US health regulator approved DMF of Atenolol filed by its subsidiary. The company said the Active Pharmaceutical Ingredients manufacturing facility at Mahad of Kopran Research Laboratories, a 100 percent subsidiary of Kopran, was inspected by the US Food and Drug Administration (USFDA) in January 2019 without any observation under Para 483.
10/11
Reliance Industries | CMP: Rs 1,662.90 | The stock price gained almost 3 percent on June 18. The scrip hit a fresh record high of Rs 1,653.75 on the National Stock Exchange June 18. The oil-telecom-to-retail major crossed Rs 11 lakh crore mark in market-capitalisation, retaining the top slot. After market hours, the company announced Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms. Disclaimer: "Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol."
11/11
JK Cement | CMP: Rs 1,244.70 | The share price rose 2 percent after the company reported a 23 percent growth in net profit at Rs 400 crore as against Rs 325 crore in FY19. Net sales of the company rose by 10 percent to Rs 5,397 crore, as compared to Rs 4,919 crore in the same period last year, it said in a regulatory filing.
