Gainers & losers today, On August 26, Nifty and Sensex closed strongly, bolstered by significant gains in metal and IT stocks. The market’s positive momentum was largely driven by the US Fed’s indication that a policy adjustment, including a possible interest rate cut, could happen as soon as next month.
KEC International: The company’s shares jumped 9 percent after securing new orders worth Rs 1,079 crore in its transmission & distribution and cables businesses, including major projects in India, Saudi Arabia, and Oman.
Honasa Consumer: Shares of Mamaearth’s parent company surged 14 percent to a new high after NCLT Chandigarh approved the amalgamation scheme between Just4Kids Services, Fusion Cosmeceutics, and Honasa Consumer.
MedPlus Health Services: Shares slipped 3 percent after a large Rs 950 crore deal, where 1.50 crore shares (12.8 percent stake) changed hands at Rs 616 a piece, leading to a significant spike in trading volumes.
Transport Corporation of India: Shares fell over 6 percent due to profit booking after hitting an all-time high, following the company’s first-ever buyback proposal of up to Rs 159 crore.
Shilpa Medicare: The stock surged 8 percent intraday after the company announced successful Phase 3 studies for NorUDCA, a drug targeting Nonalcoholic Fatty Liver Disease, boosting investor confidence.
Mangalam Drugs: The small-cap pharma firm’s shares jumped 8 percent to a 52-week high after receiving a $274,800 grant from The Medicines for Malaria Venture (MMV) for developing the antimalarial drug Pyronaridine.
Zydus Lifesciences: The share price declined by 6 percent after the company announced purchasing a 50 percent stake in Sterling Biotech from Perfect Day for Rs 550 crore, affecting investor sentiment.
Max Estates: Shares surged over 6 percent after the company received approval from Noida authorities to develop the ‘Delhi One’ project, adding 2.6 million square feet of potential development to its portfolio.
