Stocks and sectors that moved the most on June 18

Benchmark indices managed to hold on to their early gains and scaled fresh record highs on June 18. After ascending to new peaks, both the benchmarks ended the session close to their record highs. At close, the Sensex was up 308.37 points or 0.40 percent at 77,301.14, and the Nifty was up 92.30 points or 0.39 percent at 23,557.90.

Shakti Pumps | CMP: Rs 2,853.10 | The stock was locked at 5 percent upper circuit after the company announced that its long-term rating was upgraded by INDIA Ratings & Research. The company’s term loan due in FY25 has been upgraded to IND A+/Stable. Likewise, its long-term fund-based limits’ rating has been upgraded, and the short-term rating remains at IND A+/Stable/IND A1.

IIFL Finance | CMP: Rs 281.90 | The stock of this gold financier rose over 2 percent after the company said that it has rectified all deficiencies pointed out by the Reserve Bank of India (RBI) for its gold loan portfolio. Earlier this year, the RBI had ordered IIFL Finance to stop sanctioning, disbursing, and selling gold loans citing ‘material supervisory concerns’ in its gold loan portfolio.

Biocon | CMP: Rs 328.20 | Shares of tumbled 2 percent after the US Food and Drug Administration issued three observations for its Active Pharmaceutical Ingredients (API) facility in Visakhapatnam. The US FDA concluded its good manufacturing practices (GMP) inspection of Biocon’s API facility on 14 June 2024.

Paras Defence and Space Technologies | CMP: Rs 1,388.25 | Shares were locked in 20 percent after two large deals worth a total of Rs 318.10 crroe took place on the exchanges on June 18. Firstly, 1.8 percent stake in the company changed hands at an average price of Rs 1,252 in a large deal valued at Rs 88.7 crore. Another large deal worth Rs 229.40 crore, involving a 4.4 percent equity in the defence company also happened.

HFCL | CMP: Rs 124  | Shares soared over 5 percent after it was exempted from anti-dumping duties imposed by the European Commission on rival Indian Optical Fiber Cable (OFC) manufacturers. HFCL was the only Indian company that was found to not be engaged in dumping of optical fibre cables (OFC) across European markets, a statement from the European Commission said.

BLS E-Services | CMP: Rs 283 | Shares surged around 7 percent after the company announced signing a pact to acquire a 55 percent controlling interest in Aadifidelis Solutions and its affiliates for an enterprise value of roughly Rs 190 crore, as per an exchange filing.vFor the acquisition, BLS E-Services will pay Rs 71 crore upfront, with the balance to be deferred linked to achievement of milestones in FY25. The acquisition, which will be an all-cash deal will be completed in Q2 of FY25.

Som Distilleries and Breweries | CMP: Rs 116.95 | Shares crashed over 6 percent after the National Commission for Protection Of Child Rights (NCPCR) announced it found 50 children working at the firm’s Madhya Pradesh plant. However, the firm has denied responsibility for employing child labour, instead said a private contractor was accountable for the mishap.

Zydus Lifesciences | CMP: Rs 1,081 | Shares fell around 3 percent after the US Food and Drug Administration classified the company’s Gujarat unit classified as “Official Action Indicated” (OAI).

Wipro | CMP: Rs 491.55 | Shares rose 3 percent after the company announced extension of partnership with US clothing brand Hanesbrands and a new collaboration with financial services company GBST.

Mahindra and Mahindra | CMP: Rs 2,958.15 | Shares rose over 1 percent in the morning after international brokerage Nomura raised the target price citing multiple levers of growth.