The 30-share pack Sensex jumped 650.98 points or 1.09 per cent to close at 60,395.63. Its broader peer Nifty50 gained 190.60 points or 1.07 per cent to 18,003.30. The broader markets gained as the BSE smallcap index zoomed more than a per cent.
“Markets are showing tremendous resilience amid the rising COVID cases and the focus would now shift to the earnings season. Besides, key macro data such as IIP and CPI would also be on investors’ radar. We’re now eyeing 18,100+ zone in Nifty. Apart from banking, participants should focus on metal, energy and select auto counters for long positions,” said Ajit Mishra, VP – Research, Religare Broking.
Electronic vehicle plays such as Graves Cotton and India Nippon hit the upper circuits along with . RateGain Travel stock was back in action. Meanwhile, among losers, GNA Axles stood out after a poor Q3 show while Paytm dropped as Macquarie slashed the target price.
Let’s have a look at the biggest movers and shakers of Monday’s session:
GAINERS
EV players: A couple of electric vehicles players, especially part makers, were high in demand among the investors ahead of the Union Budget. India Nippon Electricals and Greaves Cotton hit the upper circuit of 20 per cent each at Rs 505.55 and Rs 209.45, respectively.
Vascon Engineers: The construction engineering player hit the upper circuit of 20 per cent at Rs 33 ahead of its results and a strong technical set-up on the daily charts.
Kitex Garments: The South India-based garments player rallied 18 per cent to Rs 270.50, scaling a new 52-week high. The scrip has been high in demand lately, surging 35 per cent in the five days after it reported a strong 69 per cent year-on-year growth in total revenues at Rs 205 crore for the October-December quarter.
Precision Camshafts: The auto parts company advanced 14 per cent to Rs 169.70 as CARE Ratings reaffirmed the rating on bank facilities of the company.
Alok Industries: The textile player advanced 12 per cent to Rs 29.80 ahead of its board meeting scheduled for January 18 to consider and approve the standalone and consolidated unaudited financial results for the period ended December on 31, 2021.
RateGain Travel Technologies: The recently listed software-as-a-service (SaaS) gained 12 per cent to Rs 427.50 following its investor/analysts meeting on Friday.
LOSERS
GNA Axles: The auto parts player tanked 12 per cent to Rs 663.80 after the company reported disappointing numbers in the December 2021 quarter. The company’s net profit tanked more than 37 per cent to Rs 16.67 crore.
Talbros Automotive Components: The smallcap auto parts makers dropped 8 per cent on the back of profit booking. The counter had zoomed about 50 per cent in the last one week as a couple of ace investors bought a significant stake in the company.
One 97 Communications: The parent company of Paytm shed 6 per cent to Rs 1,157.90 as the global brokerage firm Macquarie gave it a target price of Rs 900 on the counter with an ‘underperform’ rating, citing more pain ahead.
Garden Reach Shipbuilders & Engineers: The state-run defence player dropped 5 per cent to Rs 249.70 following a weak technical set-up on the daily charts. The traded volume of the counter more than trebled compared to the two-week average.
BGR Energy Systems: The south India based utility player hit the lower circuit of 5 per cent at 112.70 on the back of profit booking in the counter. The scrip had zoomed more than 90 per cent in the last one month, which turned investors cautious.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
