Gainers Losers: 10 stocks that moved the most on November 22

Benchmark indices fell 2 percent on November 22 amid weak global cues on the back inflation worries. At close, the Sensex was down 1,170.12 points or 1.96% at 58,465.89, and the Nifty was down 348.30 points or 1.96% at 17,416.50.

Reliance Industries | CMP: Rs 2,365.65 | The share was down over 4 percent on November 22. The company said it had mutually decided with Saudi Aramco to re-evaluate a proposed investment in the O2C (oil-to-chemicals) business. In 2019, RIL announced at its annual general meeting (AGM) that Aramco would buy a 20 percent stake in the O2C division at an enterprise value (EV) of $ 75 billion. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Bharti Airtel | CMP: Rs 391 | The scrip jumped over 7 percent after the company had announced revised mobile tariffs for the prepaid customers. Bharti Airtel announced revised mobile tariffs for the prepaid plan. The company has hiked prepaid tariffs by 20-25 percent effective November 26, company said in the release.

One97 Communications (Paytm) | CMP: Rs 1,362 | The stock was down over 12 percent on November 22. The fall seems to be unstoppable as global brokerage firm Macquarie Research expects the stock to hit as low as Rs 1,200, implying 44.2 percent potential downside from its issue price, citing expensive valuations compared to global fintech players, and PayTM’s business model lacking focus and direction.

Escorts | CMP: Rs 1,801.85 | The stock price ended flat in a market which witnessed bloodbath. Japan’ Kubota Corporation will raise its stake in Escorts to 14.99 percent through a preferential issue aggregating to Rs 1,872 crore further cementing its place in India, the world’s largest tractor market. The joint entity intends to attain global leadership in the farm-equipment sector. Brokerage firm Sharekhan has a positive outlook on Escorts and expects a 15 percent upside.

MTNL | CMP: Rs 20.30 | The stock price gained over 8 percent as the government is planning to sell real estate assets of state-run telecom firms. The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL at a reserve price of around Rs 1,100 crore, according to documents uploaded on the DIPAM website.

State Bank of India | CMP: Rs 487 | The stock shed over 3 percent on November 22. Fitch Ratings affirmed State Bank of India’s Long-Term Issuer Default Rating (IDR) at ‘BBB-‘. The outlook is negative. The agency has also affirmed the bank’s Viability Rating (VR) at ‘bb’, it said.

Bharat Electronics | CMP: Rs 203.45 | The share price slipped 2 percent. Airbus Defence and Space has signed a contract with Bharat Electronics Limited (BEL) for the manufacture and supply of Radar Warning Receiver (RWR) and Missile Approach Warning System (MAWS). This is the biggest export order received till date by BEL, the company said in an exchange filing.

JBM Auto | CMP: Rs 919.95 | The scrip added over 3 percent after the company said its board would consider a stock split proposal at a meeting on December 8. A meeting of the board was scheduled for December 8, 2021 to consider and approve the proposal of sub-division of the company’s equity shares having face value of Rs 5 each and matters related thereto, subject to regulatory and statutory approvals, the company said in an exchange filing.

KPI Global Infra | CMP: Rs 203 | The share price shed 3 percent on November 22. The firm bagged repeat order for executing solar power project of 5.20 MWdc capacity from the existing client M/s. Devika Fibres Private Limited, Surat under ‘Captive Power Producer (CPP)’ segment of the Company.

IRB Infra | CMP: Rs 211.60 | The share shed over 4 percent on November 22. The company said that its shareholders have passed a resolution which will enable capital inflow of Rs 5,347 crore into the company.