Gainers & Losers: 10 stocks that moved the most on January 7 – Moneycontrol.com

Equity benchmarks the Sensex and the Nifty closed slightly lower on January 7. The Sensex closed 81 points, or 0.17 percent, down at 48,093.32 and the Nifty closed 9 points, or 0.1 percent, down at 14,137.35.

Bharti Airtel | CMP: Rs 544.15 | The stock was up over 3 percent after the telecom major received the RBI and FIPB’s nod to increase FDI in its Payment Bank, according to a CNBC Awaaz report. The stock also gained as the union cabinet approved a proposal for the auction of 2,251.25 megahertz (MHz) of spectrum worth Rs 3.92 lakh crore at the base price on December 17, 2020.

Ashok Leyland | CMP: Rs 110.95 | The stock jumped over 5 percent after Nomura maintained a ‘buy’ call on the stock with the target raised to Rs 134 per share. It is of the view that stronger M&HCV recovery is likely, adding that the company will benefit more due to its higher share in higher tonnage trucks.

PNC Infra | CMP: Rs 182.55 |The stock price added over 3 percent after several fund houses bought shares of the company in bulk deals. On January 6, Axis MF acquired 22 lakh equity shares and Nippon India Mutual Fund 25 lakh shares at Rs 175 each. BNP Paribas Arbitrage bought 20.8 lakh shares, Fidelity Asian Values Plc 13,21,824 and Fidelity Funds Asian Smaller Companies Pool 30,28,389 shares at the same price.

Dixon Tech | CMP: 15,843.95 | The share price jumped over 9 percent after the company said it had entered into an agreement with boAt for the manufacturing of twin wireless speakers. “Dixon Technologies and boAt have entered into an agreement for manufacturing of twin wireless speakers. Dixon shall be manufacturing the said products from its manufacturing facility located at Noida, Uttar Pradesh,” the company said.

Larsen & Toubro | CMP: Rs 1,341 | The stock added 2 percent after the company said its subsidiary secured a contract from ONGC. “L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has secured a contract from Oil & Natural Gas Corporation (ONGC) for their new living quarter (LQ) and revamp at ‘NQ Complex’ (NLRNC-RT2) project,” the company said in a statement.

Supreme Infra | CMP: Rs 14.10 | The stock price was up 4 percent after the company bagged an order worth Rs 215 crore from Mars Hotels & Resorts.

Zee Entertainment | CMP: Rs 218.95 | The share price ended in the red after Brickwork Ratings downgraded Zee to A from AA-. The rating continues to remain on Credit Watch with negative implications.

Real Estate stocks gain | Real estate stocks were in the focus on January 7, a day after the Maharashtra cabinet cleared a proposal to cut government levies on the real estate sector by 50 percent. Realty stocks including India bulls Real Estate jumped over 14 percent, while Sobha, Sunteck Realty, DLF, Brigade Enterprises and Oberoi Realty were the other gainers.

GM Breweries | CMP: Rs 454.65| The stock jumped 5 percent after the company’s net profit was up 51 percent at Rs 21.1 crore against Rs 14 crore (YoY). Revenue was down 6.4 percent at Rs 112.1 crore against Rs 119.7 crore (YoY). EBITDA was up 39 percent at Rs 27.7 crore against Rs 19.9 crore (YoY).

Titan Company | CMP: Rs 1,544 | The share shed over a percent after CLSA maintained a ‘sell’ call on the stock with a target at Rs 1,370 per share. It is of the view that valuation is expensive at current levels. CLSA sees 11 percent YoY topline growth in FY21, while earnings may see a 22 percent YoY decline, given a weak margin for Q3.