Who were the top gainers at market open
Fertilisers And Chemicals Travancore Ltd (FACT) shares rose more than 10% at market open. The move came a day after Union Chemicals and Fertilizers Minister J P Nadda said the government was focused on building an ecosystem to boost investment in domestic manufacturing capacity, as part of efforts to grow India’s chemicals sector to $1 trillion by 2040.
FACT’s shares had fallen over 4% since the start of the year and more than 14% over the past year. They stood about 22% below their 52-week high of ₹1,058.60. Trading volumes stood out sharply, with over 59 lakh shares changing hands at 44.24 times the stock’s 10-day average.
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Paradeep Phosphates shares rose by as much as 6% at market open, moving on the same government remarks on the chemicals sector that lifted FACT. The company’s shares had fallen over 3% since the start of the year and more than 29% over the past year. They stood 59% away from their 52-week low of ₹99.70. Over 1 crore shares were traded, at 6.08 times the stock’s 10-day average.
Afcons Infrastructure shares rose as much as 4% at market open before paring some gains, after the company won an arbitration award of ₹335.50 crore in a dispute with the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA). Payment remained contingent on UPEIDA not challenging the award within the legally allowed time.
The company’s shares had fallen over 28% since the start of the year and more than 34% over the past year. They stood about 9% away from their 52-week low of ₹259.10. Over 20 lakh shares changed hands, at 1.95 times the stock’s 10-day average.
PVR Inox shares rose over 2% at market open, before paring some gains, after the company said it would consider a share buyback on 31 August. The stock had risen over 23% since the start of the year and more than 13% over the past year, and touched a fresh 52-week high of ₹1,284.50 in intraday trade. Over 8 lakh shares were traded, at 2.42 times the stock’s 10-day average.
Who were the top losers at market open
Among the losers, Hindustan Copper shares fell more than 5% at market open after the Government of India announced it would sell a 3% stake through an Offer for Sale, with a green-shoe option for a further 3%. The floor price was set at ₹514 per share, a 9.5% discount to Monday’s closing price of ₹567.90.
The stock had still risen almost 4% since the start of the year and surged 130% over the past year. It stood about 40% below its 52-week high of ₹760.05. Over 1 crore shares were traded, at 0.94 times the stock’s 10-day average.
IIFL Finance shares fell over 7% at market open before paring some losses. The company’s shares had risen over 8% since the start of the year and nearly 47% over the past year, and stood 4.6% below their 52-week high of ₹705. Over 41 lakh shares were traded, at 1.65 times the stock’s 10-day average.
Cartrade Tech shares fell by as much as 3% at market open before recovering some of the losses. The company’s shares had risen almost 10% since the start of the year and nearly 30% over the past year, and stood almost 6% below their 52-week high of ₹3,290.50. Over 1 lakh shares were traded, at 0.26 times the stock’s 10-day average.
Godrej Industries shares fell by as much as 3% at market open, a day after the company signed a ₹20,000 crore investment memorandum of understanding with the Government of Haryana. The company’s shares had risen over 11% since the start of the year but slumped almost 11% over the past year and stood 25% below their 52-week high of ₹1,443. Just over 61,000 shares were traded, at 0.39 times the stock’s 10-day average.
Which other stocks are in focus today
Several other companies also remained in focus. Tata Consultancy Services agreed to acquire Porsche’s IT consulting arm MHP for €320 million as part of a five-year AI and software-led mobility partnership. Suzlon Energy outlined plans to develop 1,325 MW of new wind projects in Andhra Pradesh, while Coal India incorporated a Singapore-based subsidiary to explore overseas critical mineral assets.
UCO Bank’s board approved raising up to $1 billion via foreign currency debt instruments. ICICI Bank priced $1 billion in five-year senior unsecured notes through its IFSC Banking Unit, rated ‘BBB’ by S&P.
