Gainers & Losers: 10 stocks that moved the most on December 14

By The Money Control

Indian benchmark indices ended with moderate gains in the volatile session on December 14.

At close, the Sensex was up 144.61 points or 0.23% at 62,677.91, and the Nifty was up 52.30 points or 0.28% at 18,660.30.

Yes Bank | CMP: Rs 22.05 | The stock tumbled over 7 percent on December 14.

Analysts and fund managers are advising investors to be cautious for two reasons – the upcoming expiry of lock-in of 75 percent of shares that will likely flood the counter with supply and most of the positives already being priced in.

The lender appointed representative directors from Carlyle and Advent to its board after they acquired a stake in the company.

Colgate Palmolive | CMP: Rs 1,573.85 | The scrip was down over 4 percent on December 14.

Citi has maintained a ‘sell’ rating on Colgate Palmolive with a target of Rs 1,650.

“Focus on both volume growth & premiumisation is likely a tall ask.

The company could require sustained investments with results likely to be delayed.

We would watch out for investments to drive change in consumer habit,” Citi said.

One 97 Communications | CMP: Rs 529.80 | The stock ended in the red despite the company’s board approving a Rs 850 crore share buyback plan on December 13.

The company said that it will buy back up to 10.5 million shares of the company at a price of up to Rs 810 per share, which was much higher than the Rs 650 per share expected by the market.

However, market participants expressed disappointment over the route through which the company will buy back shares. Paytm said that it will buy back its shares through the open market method instead of the much preferred tender route.

Jubilant Pharmova | CMP: Rs 409 | The share price added 2 percent on December 14. Jubilant Pharmova announced that the United States Food and Drug Administration (USFDA) has concluded the inspection of the Active Pharmaceutical Ingredients (API) manufacturing facility at Nanjangud on December 13, 2022.

The US FDA issued eight observations pursuant to the completion of the inspection.

Reliance Infra | CMP: Rs 155.60 | The stock ended in the red after the firm informed that it is in receipt of an arbitral award passed by the Singapore International Arbitration Centre in the matter of arbitration between Shanghai Electric Group Co Ltd. and the Company.

As per the filing, the disputes related to in connection with an alleged guarantee provided by the Company in relation to the construction of the Sasan Ultra-Mega Power Project.

The Award against the Company is for a sum of around Rs 1,215 crore, Reliance Infra said.

Patel Engineering | CMP: Rs 21.80 | The scrip rose 3 percent after the company said that a meeting of the Board of Directors of the company is scheduled to be held on December 16, 2022, to consider matters related to raising of funds through the issue of equity shares of the company on rights basis.

NBCC (India) | CMP: Rs 42.60 | The stock price gained 3 percent on December 14. The company secured a total business of Rs. 300.41 crores in the month of November 2022.

HG Infra | CMP: Rs 627 | The share price jumped over 7 percent after the company was declared as L-1 bidder by the National Highways Authority of India (NHAI) for the construction of 6-Lane Greenfield Karnal Ring Rd starting from NH44 near Vill Shamgarh Design km 0.000 and terminating at Karnal Munak Road (MDRI115) Vill Samalakhal (Design km 34.500) under BMP in Haryana on HAM.

Hubtown | CMP: Rs 54.85 | The stock price hit a 5 percent lower circuit after Financial Creditor filed a plea before NCLT against Hubtown.

A petition has been filed under the Insolvency and Bankruptcy Code, 2016 by M/s International Asset Reconstruction Company Private Limited, Financial Creditor of Hubtown, before the National Company Law Tribunal – Mumbai Bench on September 7, 2022, alleging to default in payment of Rs 38,24,95,712 and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the company.

Kerala Ayurveda | CMP: Rs 100.60 | The share price jumped 8 percent after The United States Patent and Trademark Office (USPTO) awarded Kerala Ayurveda its 1st patent for a uniquely processed proprietary herbal formulation, inspired by ancient ayurvedic wisdom.