Indian markets ended weaker on September 11, with the Sensex closing at 81,591.57, down 329.72 points (0.40%), and the Nifty slipping 90.30 points (0.36%) to 24,950.80. Despite the overall decline, several stocks saw significant movement. Here’s a look at the top gainers and losers.
Gainers:
- Prism Johnson: The stock surged over 9%, hitting a fresh high of ₹246 on heavy trading volumes. A total of 10 crore shares traded on the NSE and BSE, compared to a one-month average of 37 lakh shares.
- Century Textiles and Industries: Shares rose over 7%, touching a record high of ₹2,689. The rise followed the acquisition of a 10-acre land parcel in Worli, Mumbai, for ₹1,100 crore.
- Suzlon Energy: The stock gained 5%, hitting the upper circuit after Morgan Stanley reaffirmed its ‘overweight’ rating, citing a major wind energy order win from NTPC Green Energy.
- Goa Carbon: Shares rose over 3% after the company resumed operations at its Goa unit, which had been shut down since July 29 for maintenance.
- Varun Beverages: The stock jumped 4% to ₹1,588 ahead of its 2:5 stock split record date, with the split set to take effect on September 12.
Losers:
- Tata Motors: The stock dropped 5.7% after UBS Securities retained a ‘sell’ rating, citing risks of margin slippage in Jaguar Land Rover and the domestic passenger vehicle segment.
- SAMIL (Samvardhana Motherson International): Shares fell nearly 3% after BMW Group lowered its 2024 earnings forecast. As BMW contributes around 5% to SAMIL’s topline, the downward revision impacted the stock negatively.
- Infibeam Avenues: The stock fell 8% during the day and ended 3.5% lower as it traded ex-date for the spin-off of its digital marketing arm, Odigma Consultancy Solutions. September 11 was the record date for the spin-off.
- Oil India & ONGC: Shares of these state-owned oil companies fell up to 6% on profit booking as crude oil prices traded near a three-year low amid weak demand concerns
