Gainers Losers: 10 stocks that moved the most on June 3

The Indian equity benchmarks squandered the day’s gains in the last hour of the trade to end lower on June 3. At close, the Sensex was down 48.88 points, or 0.09 percent, at 55,769.23 and the Nifty ended 43.7 points, or 0.26 percent, lower at 16,584.3.

Aether Industries | CMP: Rs 774.4 | The speciality chemicals maker had a blockbuster listing on June 3 as it debuted with a premium of 10 percent. It witnessed strong demand from retail investors tracking positive sentiment in the equity market, superior growth prospects of the company and a good response, especially from qualified institutional buyers, to its IPO. It was locked in an upper circuit of 20 percent for the rest of the day. Experts said investors should hold the stock with a long-term view, considering the company’s growth prospects, niche position in the specialty chemicals business and strong financials.

MTAR Technologies | CMP: 1471.75 | The stock gained on June 3 after it disclosed in a regulatory filing that it had entered into a share purchase agreement with sellers and GEE PEE Aerospace & Defence Private Limited for the acquisition of a 100 percent equity stake in GEE PEE Aerospace & Defence Private Limited for Rs 8 crore payable in cash after deduction of borrowings and liabilities. Gee Pee Aerospace and Defence Private Limited is now a wholly owned subsidiary of MTAR.

VA Tech Wabag | CMP: 259.5 | The company gained more than 4 percent during the day after its consortium bagged a euro 150-billion order from the National Water Company of Senegal. The Design, Build, Operate (‘DBO’) order is for the 50 MLD (expandable to 100 MLD) Mamelles Sea Water Desalination Project. The scope of WABAG under this order will be engineering and procurement and operation and maintenance, which is worth about a third of the consortium order value.

UltraTech Cement | CMP: 5678.85 | The cement giant was under selling pressure through out the day after it announced undertaking capacity expansion involving a capex of more than Rs 12,800 crore over the next five years. The company intends to fund this capex entirely through internal accruals. Global brokerages raised their target price for the cement maker with a “buy” call.

Force Motors | CMP: 1074.7 | The Pune-based automaker made healthy gains after it announced strong sales numbers for May. Its total sales for the month were up 38.7 percent on-year at 2,026 units from 1,460 units during the same period last year.

Angel One | CMP: 1487.6 | The shares of the leading brokerage firm headed north after it reported a 108.7 percent on-year increase in its client base to 10.10 million. Compared to the previous month, the client base increased by 4.7 percent. Its average client funding book was up 60.4 percent on-year and 9.8 percent MoM at Rs 1884 crore.

Mahindra & Mahindra Financial Services | CMP: 186.45 | The company gained on June 3 on strong reporting of disbursements which were up 272 percent on-year at Rs 2,973 crore. It also reported an improvement in collection efficiency at 95 percent compared to 67 percent last year. The company expects a lower volatility in stage 3 assets during Q1FY23

Bharat Forge | CMP: 659 / Motherson Sumi- CMP: 127.75 | Both the auto ancillaries declined during the day as sales of class 8 trucks in North America fell to a six-month low. Reports said that North America class-8 trucks sales were down 43.6 percent YoY and down 15 percent MoM at 13,300 units. The class-8 truck orders tend to be seasonally weak in May and OEMs have yet to open their forward year build schedules. The ACT research says “long backlogs and supply-chain constrained production continue to keep new orders trending within a narrow range”.

Deepak Nitrite | CMP: 1,958.1 | The company informed exchanges that a fire broke out around the warehouse section of its manufacturing site at Nandesari, Gujarat. There has been no casualty and a few people were given first-aid treatment. The plant operations were expected to resume in a day or two upon clearance of the damaged warehouse.

Adani Ports | CMP: 739.9 | Adani Ports reacted positively to its monthly numbers but lost all its gains later in trade. The company said it handled a cargo volume of 30.37 MMT (million metric tonnes) in May 2022, implying a 4 percent YoY growth. Total coal volumes increased 6 percent YoY, on the back of thermal coal growth of 5 percent and coking coal by 9 percent. Despite record crude prices, volumes jumped 15 percent YoY. Key ports reflecting this volume growth are Mundra (7 percent), Dhamra (35 percent), Dahej (42 percent) and Kattupalli & Ennore combined (50 percent).