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Gainers & Losers: 10 stocks that moved the most on December 8

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BSE midcap and smallcap indices gained 0.3-0.4 percent

December 08, 2022 / 04:41 PM IST

The Indian benchmark indices ended higher in a volatile session. At close, the Sensex was up 160 points or 0.26% at 62,570.68 and the Nifty was up 48.80 points or 0.26% at 18,609.30.

Sun Pharma | CMP: Rs 979 | USFDA has pulled up the drug maker and listed its Halol facility in Gujarat under "import alert", sending the stock tumbling by more than 3.7 percent. The import alert means that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market. Following the development, Asian Markets Securities cut Sun Pharma’s price target to Rs 1,156 from Rs 1,211. "Import alerts are very tough to remove” it said.

Talbros Automotive | CMP: Rs 527 | The company on December 8 received an order worth Rs 60 crore in the heat-shield business from a leading passenger vehicle OEM in India. “This order is to be executed over a period of next 5 years and will help us increase our domestic market share in the coming years,” the company said in an exchange filing. The counter closed 10 percent higher.

Sakthi Sugars | CMP: Rs 22.15 | The share price gained over 5 percent after net profit of the company came in at Rs 4.93 crore in the quarter ended September 2022 as against net loss of Rs 60.73 crore during the previous quarter ended September 2021. Sales rose 229 percent to Rs 241.99 crore in the quarter ended September 2022 as against Rs 73.47 crore during the previous quarter ended September 2021.

Vadilal Industries | CMP: Rs 2,489 | The company’s board approved the purchase of the “Vadilal” Brand from Vadilal International Private Limited, a promoter entity. The board also approved the sale of certain non-core assets and business of the company to the promoters and a contract manufacturing agreement with them. The stock surged 3.64 percent on December 8.

Talbros Automotive Components | CMP: Rs 491 | The stock price jumped over 6 percent after the company received new multi year orders worth Rs 420 crore from both, domestic and overseas customers across its business divisions, product segments and JVs. These orders are to be executed over a period of next 5 years covering the company's product lines – gaskets, heat shields, forgings and chassis.

Bank of India | CMP: Rs 100.90 | Morgan Stanley expects another strong year for banks, given sustained growth and a benign credit cycle. It prefers Bank of India and Bank of Baroda to play the continued strong cyclical tailwinds. The foreign brokerage firm has a target price of Rs 125 on Bank of India. The stock closed 8.6 percent higher.

Vadilal Industries: Vadilal Industries arm buys ice creams parlour operator in US. The company through its subsidiary Vadilal Industries USA Inc has acquired KKC. The subsidiary has signed a Stock Purchase Agreement with ice creams parlour operator Krishna Krupa Corporation, USA (KKC) for subscription of shares, which would result in subsidiary holding up to 100 percent voting rights in KKC. The cost of acquisition is $0.25 million.

Macrotech Developers | CMP: Rs 1084.30 | The stock gained 1.67 percent on the news of the company approving a qualified institutional placement (QIP) issue to meet minimum public shareholding. The floor price of the QIP issue has been fixed at Rs 1,022.75 per equity share.

Bank of India | CMP: Rs 100.90 | Morgan Stanley expects another strong year for banks given sustained growth and benign credit cycle. It prefers Bank of India, Bank of Baroda to play the continued strong cyclical tailwinds. The foreign brokerage firm has a target price of Rs 125 on Bank of India. The stock closed 8.6 percent higher today.

Lumax Industries| CMP: Rs 1945 | The company’s board has approved the setting up of a greenfield project at Pune with a capital outlay of up to Rs 175 crore for Phase 1. The project will cater to new orders for advanced lighting systems from OEM (original equipment manufacturer) clients. “Peak annualised turnover is expected to the tune of Rs 600 crore post commissioning,” said the company. The stock ended 5 percent higher.

Macrotech Developers | CMP: Rs 1084.30 | The stock gained 1.67 percent on the news of the company approving qualified institutional placement (QIP) issue to meet minimum public shareholding. The floor price of the QIP issue has been fixed at Rs 1,022.75 per equity share.

VA Tech Wabag | CMP: Rs 340.95 | The company gained 2.8 percent after the appointment of Pankaj Malhan as deputy MD & group CEO with effect from December 7. The company also re-designated Rajiv Mittal as the chairman and MD from the same date.

Lumax Industries| CMP: Rs 1945 | The company’s board has approved the setting up of new greenfield project at Pune with the capital outlay up to Rs 175 crore for Phase 1. The project will cater to new orders for advanced lighting systems from OEM (original equipment manufacturer) clients. "Peak annualised turnover is expected to the tune of Rs 600 crore post commissioning," said the company. The stock ended 5 percent higher.

Greaves Cotton | CMP: Rs 143.25 | The stock gained 1.6 percent after the company said that it will unveil five new products across electric 2 & 3 wheelers at the Auto Expo 2023. “The new products will address EV customer needs in the fast-transforming B2B and B2C space,” a press release said.

Va Tech Wabag | CMP: Rs 235.70 | The scrip added over 2 percent after the firm secured an order towards Engineering, Procurement and Construction of a 53 MLD Desalination Plant at Jamnagar, Gujarat worth about Rs 430 crore from Reliance Industries.

Dredging Corporation | CMP: Rs 418.50 | Numaligarh Refinery has awarded Dredging Corporation of India the reclamation dredging contract for the Numaligarh Refinery Crude Oil Import Terminal Plot. The company will be responsible for the transportation and pumping of dredge material from Paradip Port Authority Sand Trap to NRL (COIT) Plot for the year 2022-23. The project has an estimated cost of approximately Rs 60 crore. The stock closed 2.8 percent higher.

Greaves Cotton | CMP: Rs 143.25 | The stock gained 1.6 percent after the company informed that it will unveil 5 new products across electric 2 & 3 wheelers at the Auto Expo 2023. "The new products will address EV customer needs in the fast-transforming B2B and B2C space," a press release stated.

Greaves Cotton | CMP: Rs 143.25 | The stock gained 1.6 percent after the company informed that it will unveil 5 new products across electric 2 & 3 wheelers at the Auto Expo 2023. “The new products will address EV customer needs in the fast-transforming B2B and B2C space,” a press release stated.

Dredging Corporation of India | The company on March 17 will sign a contract with Cochin Shipyard for construction of 12,000 cubic meter hopper capacity trailer suction hopper dredger for euro 104 million under Make in India program. The construction period is about three years.

Dredging Corporation of India | The company on March 17 will sign a contract with Cochin Shipyard for construction of 12,000 cubic meter hopper capacity trailer suction hopper dredger for euro 104 million under Make in India program. The construction period is about three years.





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